San Nicolas resolution probes Guam's fuel market - KUAM.com-KUAM News: On Air. Online. On Demand.

San Nicolas resolution probes Guam's fuel market

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Is there a competitive fuel market on Guam? That begs the question in a resolution introduced by Senator Mike San Nicolas.

San Nicolas Presented Resolution 215, requesting the Federal Trade Commission return and see whether the fuel market is as they intended following the merger of the Exxon and Mobil in 2000.

According to San Nicolas, research has observed a lockstep and non-competitive pricing amongst fuel providers on island following the merger, when one fuel stations prices go up or down, they all follow suit.

San Nicolas says the commission ordered that each corporation give up certain assets prior to the merger to ensure a competitive market - but Resolution 215 questions whether that actually happened.

The resolution is expected to be placed on an upcoming session agenda.

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