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Decline in global oil prices reflected in the local MAP

chart of oil prices
reporters@samoanews.com

Pago Pago, AMERICAN SAMOA — Continued drop in crude oil prices, has contributed to the latest decrease in the local maximum allowable price (MAP), or wholesale price, for all fuel products sold in American Samoa, according to the latest report from the ASG Office of Petroleum Management (OPM) released Monday afternoon.

The current MAP became effective July 15th and runs through Aug. 14th and the OPM report shows a decrease of between 16-cents to 20-cents per gallon on all fuel products.

“Crude oil continues to drop in June coupled with a drop in transportation cost,” according to the OPM report released Monday. “Following the global trend... the decline in oil prices shows up on the MAP.”

For gasoline, it’s a decrease of 20-cents from the previous MAP, while road diesel — which includes  certain road vehicles — it’s a decrease of almost 19-cents per gallon.

OPM’s local retail price survey, conducted Monday — a week after the MAP changed — shows that only two of the gas stations on island had adjusted their retail price, in accordance with the drop of the new MAP.

The two gas stations — Morris Scanlan Service Station and Marina Gas Station, both in the town area — have an average price of $3.23 per gallon for gasoline and $3.48 per gallon for road diesel.

The rest of the gas stations, at the time the OPM report was released — were still selling at prices based on the June MAP —  averaging $3.45 per gallon for gasoline and $3.65 per gallon for diesel.

For other diesel products, there’s an 18-cent decrease for boilers/generators, commercial fishing vessels and other marine diesel; and the ultra-low sulfur for road diesel and ultra-low sulfur diesel for boilers/generators.

For jet fuel and kerosene, it’s a 16-cent per gallon decrease, according to the report, which also reminds the public that ASG and OPM has “no control over the price — retail — at the gas station.”