MOBIL Oil Marianas on Wednesday raised its gasoline prices by 15 cents, and its diesel price by 10 cents. Shell Marianas is expected to follow suit.
The Mobil Oil Marianas gas station on Beach Road in Garapan displays its prices on Wednesday.
It was the third fuel price hike this month. The last was two weeks ago.
The price of regular gasoline went up to $5.17 a gallon from $5.02 a gallon; premium gas price to $5.62 a gallon from $5.47 a gallon; and diesel to $5.43 a gallon from $5.33 a gallon.
As of 5:30 p.m. Wednesday on Tinian, Mayor Edwin P. Aldan said the regular gas price was $6.76 per gallon and diesel was $7.14 a gallon.
Tinian not running out of money
Over the last few days, Aldan said, his office has been assisting the resident director of the Department of Lands and Natural Resources by providing gasoline for the Division of Parks and Recreation’s vehicles.
The Tinian municipal government is not running out of money for fuel, he added.
But he said the staff of Tinian Parks and Recreation, which is under DLNR, had a hard time purchasing gas for their vehicles and equipment because of the delay in the processing of purchase orders on Saipan.
Two days ago, Aldan said, his office had to help DLNR buy 30 gallons of gasoline. On Wednesday, he said, he had to “help” them again.
He said the problem with purchasing gas due to a delay in the processing of purchasing orders is not new on Tinian, the mayor said.
On Saipan, he added, gasoline companies can allow government agencies to pay for their fuel at the end of the month.
But he said Mobil on Tinian cannot do the same due to a different supply cycle and higher shipping cost.
The tanker that delivers fuel to Tinian is also a small one, he said, adding that it is always difficult for the tanker to dock at the Tinian port.
The local fuel company on Tinian has to hire a tugboat to help the tanker dock safely, Aldan said.
The cost of this additional docking operation is added to the per gallon price of gasoline on Tinian, he added.
Aldan said his office and the municipal council always have enough money for fuel that is why they are always able to assist other government agencies such as DLNR whose Parks and Recreation staff must be out there to maintain road sides, parks and other public facilities.
“They use a lot of fuel. And when they have a problem with purchasing gas, the mayor’s office always assists them,” Aldan said.
Global oil prices
According to MarketWatch, oil futures climbed on Tuesday, with U.S. benchmark crude prices finishing at a fresh seven-year high on expectations that global supplies will remain tight.
“There is little that can tilt oil prices away from their upwards momentum on the short term, as the only real supply source of significance is OPEC+, and there doesn’t seem to be much mood for policy change on that front for the moment,” said Louise Dickson, senior oil markets analyst at Rystad Energy.
“OPEC+, which is comprised of the Organization of the Petroleum Exporting Countries and its allies, will hold a meeting on Nov. 4 to discuss production levels,” MarketWatch reported.
