By Gemma Q. Casas
Variety News Staff

THE price of unleaded gasoline here went up by 6 cents this week, further shrinking the value of the islands’ hourly minimum wage which was last set in 1996.
Shell Marianas and Mobil Oil Mariana Islands Inc. are now selling unleaded fuel at $3.36 a gallon, 31 cents or 10 percent higher than the islands’ $3.05 minimum wage rate.
With basic fuel prices up, one of the largest distributors of diesel and lubricants on island announced yesterday that it, too, would increase its commercial fuel prices.
Sung Moon Cho of D&W Enterprises Inc., said they will increase the price of their fuel products by 6 cents per gallon effective today.
“Once again, we regret to inform you that as a result of repeated review of the cost of products exiting Singapore, the commercial fuel price is increased by 6 cents per gallon effective May 1, 2007. Your price per gallon will increase by 6 cents per gallon effective Wednesday, May 2, 2007,” he said in a public announcement.
In June 2006, the price of unleaded fuel on Saipan reached $3.459 a gallon and nearly $4 on Tinian and Rota.
The Commonwealth Utilities Corp., which uses diesel fuel to run its power plants, adjusts its electric rates based on the price of imported fuel from Singapore.
Since July 2006, the island’s power rates have increased by more than 100 percent due to the rising price of imported fuel.