Biggest Drop Is in Ultra Low Sulfur

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Fuel prices continue to tumble and it means savings for businesses and consumers.

According to the latest wholesale price list for fuel which goes into effect tomorrow, prices will drop by 9 cents per gallon for unleaded gasoline, 24 cents per gallon for kerosene and jet fuel , and 26 cents per gallon for road diesel and fuel for commercial fishing vessels.

But the biggest drop is in ultra low sulfur which is used by the Department of Education’s school buses and the American Samoa Power Authority’s generators at Satala, which drops 27 cents a gallon.

Measured over the course of 2015, the average retail price for unleaded was $2.85 a gallon compared to $4.40 in 2014.

The average price for diesel in 2015 was $3.58 compared to $4.45/gal the year before.

The Office of Petroleum Management estimates that local drivers saved an average of $240 in unleaded gas in 2015.

Fuel prices remained relatively low throughout last year due to a worldwide glut in crude oil.

OPM says there was more than enough oil to meet demand around the world and that allowed oil prices to drop to the lowest levels since 2009.

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