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Gasoline now costs $4 plus per gallon
Thursday,
May 1, 2008
How does $4 a gallon sound?
The latest wholesale price schedule for fuel released today is expected to jack up the price of unleaded gas to $4 or more per gallon. Sione Kava of the Office of Petroleum Marketing says while April saw a 4-cent dip in the price of gas in May will see motorists paying the highest prices ever in the territory’s history. The new maximum allowable price hikes unleaded gasoline by 12 cents a gallon, selling at $3.62 a gallon. Kava says typically gas stations will slap 40% on top of the wholesale prices to cover overhead and other charges. This should see prices at the pump jump from around $3.94 to $4.05 a gallon. The price of other petroleum products also went up. The biggest increase was in the price of jet fuel and kerosene, which jumped 16 cents taking it to $3.92. Diesel fuel increased 12 cents per gallon. Road diesel now costs $4.25; boilers/generators $3.94, commercial fishing vessels $3.74 and other marine diesel is $3.85.
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