Price per self-serve gallon down 18 cents in past two weeks
The price per gallon of regular, unleaded self-serve gasoline at Grand Cayman gas stations fell by another 18 cents within the past two weeks, according to figures released by the Cayman Islands Petroleum Inspectorate.
The average price of $5.21 per gallon recorded on Dec. 10 represents a near 40 cent drop compared to late October, when a gallon of unleaded regular was $5.59 per gallon.
However, prices at Esso/Sol Petroleum stations had dropped even further as of Dec. 10, coming in at $5.15 per gallon for regular unleaded. Rubis petrol stations were averaging around $5.27 per gallon for regular, unleaded self-serve.
Average prices for regular, unleaded full-serve gasoline at the Grand Cayman stations were CI$5.26 per gallon on Dec. 10.
The prices used to calculate the per-gallon average for Grand Cayman do not include pump prices in Little Cayman or Cayman Brac, nor do they include stations on Grand Cayman that use only full-service gasoline prices.
However, between late November and now, it appears that full-serve fuel prices had dipped as well. From Nov. 28 to Dec. 10, the following fuel price decreases for a gallon of full-serve regular unleaded were recorded: At Mostyn’s Esso in Bodden Town, from $5.51 to $5.37; at Four Winds Esso in West Bay, from $5.50 to $5.35; and at the Hell Road Esso, from $5.51 to $5.36.
At Lorna’s Rubis in Bodden Town, the price for regular, unleaded full-serve gasoline fell from $5.51 to $5.38 per gallon, and at the East End Rubis – which offers only self-serve premium gas, the price per gallon fell from $5.56 to $5.50.
The only Cayman Islands fuel stations that have not recorded a price drop since late October were in Cayman Brac, where full service unleaded stood at $5.75 per gallon at both stations, and in Little Cayman, where the price per gallon remained at $6.49 per gallon.
Also, for the first time since local fuel prices began falling in late October, the average price drop at the pump in Cayman mirrored what had been seen in the United States.
On Dec. 3, the national average per gallon of regular unleaded in the U.S. was US$2.75. A week later, it was US$2.62 – a 13 cents per gallon reduction. Cayman’s average price drop between late November and Dec. 10 was slightly more – 18 cents per gallon. However, Cayman stations had some catching up to do, according to average fuel prices recorded by the American Automobile Association.
The U.S. national average for a gallon of regular, unleaded gas at retail stations peaked sometime in June at US$3.67. Since then, the national average retail price has steadily dipped, to US$2.62 per gallon now – a reduction of a US$1.05 in about six months.
Cayman’s fuel prices didn’t start going down until late October. Since then, average prices have dropped by 38 cents a gallon.