With gas prices going down throughout the United States, Guam's gas prices went down 20 cents on Wednesday.
The price of regular gasoline fell 20 cents at Mobil from $3.70 to $3.50.
Shell and 76/Circle K were still at $3.70 around 4 p.m. Wednesday.
More: Mobil regular unleaded fuel drops 15 cents to $3.70 a gallon
More: So far CNMI has no COVID-19 cases, but taking steps to minimize exposure
Usually, gas companies mirror competitors' prices and a change in price for one fuel company signals an upcoming price change for the other companies.
The last time gas prices went down was on March 13.
As of Saturday, the national average price for gas is $2.15, which is 44 cents cheaper than the average a year ago, according to AAA. The last time average gas prices were this low was December 2016.
Gas prices plummeted in recent weeks because of oil price feuds between Saudi Arabia and Russia, and looming recession fears sparked by the coronavirus pandemic. Saudi Arabia slashed crude oil prices and increased production, which has sent U.S. oil down 63 percent since March 9.
Nineteen states now have gas price averages that are less than $2, AAA says.
https://www.guampdn.com/story/news/local/2020/03/25/regular-gasoline-price-down-20-cents-mobil/5076600002/
2020-03-25 07:15:26Z
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