VIDEO: 76, Shell, Follow Mobil’s 20-cent Hike. All 3 Now at $4.88 a Gallon.

189

Guam –  Mobil overnight Tuesday once again was first to raise its price for a gallon of unleaded regular by 20-cents to $4.88 cents a gallon.

76 followed Wednesday afternoon, and Shell did the same by Wednesday night. All 3 island fuel suppliers have now raised their price per gallon from $4.68 to $4.88 a gallon.

It is the fourth increase in the price of gasoline in the past month which has seen the price surge 45-cents since July 18th.

The highest price of the year was $4.98 cents reached on February 28th, after which fuel prices had been declining, until last month. Island consumers are feeling the pain.

Guam’s gasoline is brewed in Singapore where one of the Asian benchmarks is Tapis crude and Tapis has recently risen to about $120 dollars a barrel from a low of $97 dollars on June 27 18th.

SEE a Bloomberg chart showing the price of Tapis HERE

Prices have also been climbing in the mainland U.S. where the Triple-A Daily Fuel Gauge reports that the average price per gallon is $3.70, up about 7 cents from one week ago.

SEE AAA Daily Fuel Gauge Report HERE

PRICE CHANGES for a Gallon of Unleaded Regular  in 2012

1.   January 12 – prices increase 10-cents from $4.53 to $4.63 for regular unleaded

2.   February 1 – another 10-cent increase to $4.73.

3.   February 14 – a 15-cent increase to $4.88

4.   February 28 –  a 10-cent increase to $4.98.

5.   May 8 – 10-cent decrease to $4.88

6.   May 18 – 10-cent decrease to $4.78

7.   June 5 – 25-cent price decrease to $4.53

8.   June 19 – 10-cent price decrease to $4.43

9.   June 25 – 15-cent price decrease to $4.28

10. July 18 – 15-cent price increase to $4.43

11. July 25 – 10-cent increase to $4.53

12. August 7 – 15-cent increase to $4.68

13. August 15 – 20-cent increase to $4.88