Gas prices at Guam military installations slowly are working their way back down from the record highs reached earlier this summer, officials said Monday.

According to the Army and Air Force Exchange Services headquarters in Okinawa, the price of fuel at base pumps will drop an average of three cents per gallon when the new prices take effect Wednesday.

Unleaded fuel will drop from $1.98 to $1.95 per gallon; premium unleaded will drop from $2.17 to $2.14 per gallon.

Fuel prices on Guam are calculated and adjusted monthly.

“These prices were calculated using the AAFES overseas gas pricing formula, which takes the Department of Energy average price of gasoline in the continental United States and adds Guam’s local dispensing costs,” according to an AAFES statement released Monday.

The prices are based on the Department of Energy’s price figures for the previous four-day period.

According to an attendant at a Shell service station in Barrigada, on Monday posted prices were $2.46 per gallon for regular unleaded and $2.56 for premium unleaded.

Stateside prices mostly have been stable in recent weeks, after dropping about 20 cents per gallon from mid-summer highs, which saw average prices shoot well above the $2 threshold.

According to the Lundberg Survey, a national tracking service that releases bimonthly statistics, the combined national average for all grades of gasoline on Aug. 29 was $1.91 per gallon. The survey gathers price information from 7,000 gas stations across the United States.

The average price of regular, self-serve unleaded across the United States was $1.88; premium was $2.07.

With crude oil prices also retreating from record highs — and with the Labor Day end to the traditional summer travel season — gas prices should continue to decline, the Lundberg Survey predicted.

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