Prices at two of Guam's gas stations rose above $4 per gallon for regular unleaded Monday. Gas prices will edge upward as we approach spring, with gas prices rising throughout the summer into September, when prices will plateau.
"Retail prices could drop 5 to 15 cents in the next month and a half while supply outpaces demand", said Mark Jenkins, a spokesman for AAA.
Both GasBuddy and AAA report that prices remain elevated because of strong oil prices. It is not clear whether or not these price hikes have anything to do with the increase to the liquid fuel tax.
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That's four cents above the national average of $2.49 per gallon. Last week, the average was $2.20 in Lauderdale County and $2.17 in Colbert County, according to the survey.
At the close of trading Friday, West Texas Intermediate crude oil settled at $61.44 per barrel, $1.02 higher than the previous week. That price point is then lowered later in the year as a result of low demand. He does see a short-lived drop in prices in late January, but expects prices to rise again after Valentine's Day. Spring is one of two times a year that refineries go offline to conduct maintenance on their equipment and switch from winter to summer-blend gasoline, which is more expensive to produce.
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