Price of Regular Unleaded Drops 10-cents to $4.63 a Gallon

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Guam – (Thursday, November 7) – All 3 major island fuel suppliers dropped the price of  regular unleaded gasoline 10-cents overnight to $4.63 cents a gallon.

As usual, Mobil led the way last night.  By this morning Shell and 76 had also lowered their prices by the same amount.

This is the 8th price change of the year and the 5th decrease.  The last price change was a 10-cent drop on August 8th.

Guam’s gasoline is brewed in Singapore where one of the Asian benchmarks is Malaysia’s Tapis crude which has been edging lower this month, dropping from nearly US$116 dollars a barrel on November 1st to US$113 dollars a barrel as of  this past Tuesday.

SEE a chart tracking the price of Tapis on AIP.com.au HERE

Gas prices in the U.S. mainland have also been slipping. According to the Triple A Daily Fuel Gauge Report, the average cost of unleaded in the lower 48 has fallen to $3.23 a gallon from $3.35 one month ago.

READ the AAA Daily Fuel Gauge Report HERE 

However the price easing may not last long. Bloomberg reports a spike in gas futures following a government report showing a drop in supply.

  2013 Gasoline Price Changes for regular unleaded

1. January 29th – 10-cent price increase from $4.78 to $4.88

2. February 11 – 10-cent price increase from $4.88 to $4.98

3. March 11      – 10-cent price decrease from $4.98 back down to $4.88

4. April 8          – 10-cent price decrease from $4.88 down to $4.78

5. April 16        – 10-cent price decrease from $4.78 down to $4.68

6. July 17          – 15-cet price increase from $4.68 to $4.83

7. August 8       – 10-cent price decrease from $4.83 to $4.73

8. November 6 – 10-cent price decrease from $4.73 to $4.63