Attorney general to investigate dramatic surge in gas prices on Guam

The Office of the Attorney General is investigating the rise in gas prices on Guam following the Iran conflict.

AG Doug Moylan is holding a roundtable meeting this Wednesday at 10am, with invitations sent to local gas providers IP&E Holdings, Mobil Oil Guam and South Pacific Petroleum Corporation.

The OAG’s approach is to discuss the consumer and commercial government prices before the Iran war, the causes for the dramatic increase in prices and the information the gas companies will share to understand their situation and circumstances, according to a release.

Notably, the AG wants to investigate why the price surged so quickly while there may have been reserves purchased at the lower price and why all gas companies increased their prices at the same time.

The meeting also aims to get the full cooperation of the local gas companies and to discuss strategies the OAG can assist them with to lower the gas prices for the community.

As reported, gas prices surged for the fourth time in less than three weeks. Drivers are now paying about $1.20 more per gallon for gasoline and $2.70 more per gallon for diesel since the conflict began.

For someone filling a typical 15-gallon tank, that translates to about $18 more for gasoline and more than $40 extra for diesel compared with prices before the conflict.