Gas Prices Drop 5¢

Mobil Oil Guam dropped their price per gallon of gasoline 5¢ effective today, April 1. This is in response to the rollback on the Gross Receipts Tax from 6% to 4%.

I am happy to be paying less for gasoline, it sure seems suspicious that all the gas stations on Guam raised their prices by 5¢ last Friday, only to roll it back now that they are paying less taxes. Seems like they realized people were willing to pay $2.20 a gallon for gas so why not fix their prices at that level once the tax rate is reduced? What are we going to do – stop buying gas?