By Gerardo R. Partido
Variety News Staff

GASOLINE prices are up again barely a week after the last price increase.
Shell Guam yesterday increased the prices for its fuel products, citing increases in its cost of supply.
The prices at Shell stations on Guam for regular unleaded and premium unleaded are now up by 8 cents a gallon while Shell diesel fuel rose by 6 cents a gallon.
It was only on April 30 that Shell’s regular, premium, and diesel fuel increased by 6 cents a gallon.
The two other fuel companies on island — Mobil and “76” — have not yet announced price changes as of press time yesterday.
But the three fuel companies usually mirror each other’s prices.
According to Ruben Domingo, president of Shell Guam, the company has no other recourse but to raise prices because oil products in Singapore, where Shell sources its supply, are trading at historic highs.
“This forced the move in our retail prices,” Domingo said.
In Singapore, prices were affected by fears that U.S. inventories are being depleted as motorists stock up on gas.
According to wire reports, U.S. gasoline prices continued to rise at the pump Monday, with the national average price of a gallon of gas reaching $3.035.
But in some parts of the country, gas is approaching $4 a gallon, according to the Oil Price Information Service.
Analysts said U.S. gas prices have risen sharply in recent weeks on concerns that refineries aren’t making enough to meet the peak summer driving demand.
On Guam, the latest round of gasoline price hikes is angering residents and businesses alike as the cost of living and doing business on island will surely be affected.
Also starting this month, the shipping companies servicing Guam are tacking on fuel surcharges to recover their fuel costs.
This could lead to an increase in prices as retailers pass on the additional cost of shipping to their customers.