Guam – Mobil hiked the price of regular unleaded gasoline by 15-cents overnight to $4.88 a gallon.
At mid-day 76 had followed suit. And Shell had raised their price by the same amount by Saturday.
Guam’s 3 fuel suppliers walk in lock-step on their pricing, rarely do prices differ, and never for long. The 3 companies do not discuss their pricing decisions.
This was only the second price increase of the year. The first occurred on January 7th, a 10-cent hike from $4.63 to $4.73.
Guam’s gasoline is brewed in Singapore from a combination of crudes. One of the Asian benchmarks is Malaysia’s Tapis crude which has risen only modestly this month from the US$111 dollar range on May 12 to just over US$113 dollars as of yesterday.
And the price for regular unleaded in the mainland has been easing, down 4 cents in the past month according to the Triple A Daily Fuel Gauge Report.
However, Bloomberg reports that gasoline futures climbed in New York Thursday after a tornado damaged a Louisiana refinery and forced a crude oil processing unit to shut down. The Bloomberg report also points out that U.S. crude oil inventories have fallen.
2014 unleaded gas price changes:
1. Tuesday, January 7: 10-cent price increase from $4.63 to $4.73
2. Friday, May 30: 15-cent price increase from $4.73 to $4.88