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The prices shown in the selection list are added to the "As low as" price to arrive at the price of the option selected. That is why there is a plus sign in front of each price in the selection list, except for the lowest price option.
For example, the product shown below. The 2 oz size is the "As low as" price and there is no dollar amount listed for the 2 oz size in the drop-down list. The 4 oz size is $6.60 more. The next screenshot shows that when the 4 oz size is selected, the price updates to $16.78 since $10.18 + $6.60 = $16.78.