Price of unleaded gas falls to $2.98 a gallon

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This is the first time in more than 12 years that a gallon of regular unleaded gasoline has been priced under $3 a gallon on Guam.

The cost of a gallon of regular unleaded gas at Mobil service stations fell to $2.98 a gallon this morning following an unusual 7-cent cut in the price.  Normally, price changes occur in increments of 5 or 10 cents.

This is the first time in more than 12 years that a gallon of regular unleaded gasoline has been priced under $3 a gallon on Guam.

Shell and 76 still list their price at $3.05 cents a gallon. They typically follow Mobil’s lead within 24 hours.

This is the forth decrease in the price of gas this month and the tenth decrease this year.

On January 1st, the cost of a gallon stood at $4.15. It’s fallen $1.17 since then.

Prices have been falling in line with the plunge in demand for crude in the wake of the coronavirus pandemic which has kept travelers off planes and out of motor vehicles.

(Photo by PNC Chief Photographer Allan Balbin)

2020 Price Changes:

*January 1: $4.15

  1. January 8:    10-cent increase to $4.25
  2. January 23:  10-cent decrease to $4.15
  3. February 3:  10-cent decrease to $4.05
  4. March 3:      10-cent decrease to $3.95
  5. March 10:    10-cent decrease to $3.85
  6. March 13:    15-cent decrease to $3.70
  7. March 25:    20-cent decrease to $3.50
  8. April 1:        20 cent decrease to $3.30
  9. April 9:        15 cent decrease to $3.15
  10. April 17:      10 cent decrease to $3.05
  11. April 24:        7 cent decrease to $2.98