The Mobil Oil station on Beach Road in Garapan displays its gasoline prices on Thursday.
Photo by Emmanuel T. Erediano
AFTER two consecutive price hikes earlier this month, Mobil Oil and Shell Marianas both reduced their prices by 10 cents last week.
Mobil Oil cut its regular gasoline price on Thursday from $5.26 to $5.16 per gallon; its premium gasoline from $5.71 to $5.61 per gallon; and its diesel from $5.53 to $5.43 per gallon. Shell Marianas followed suit on Friday.
On Tinian, Tinian Fuel Services’ regular gasoline price stood unchanged at $7.24 per gallon as of Sunday, with diesel at $7.67 — costs set by a price hike two weeks ago. On Rota, Calvo Enterprises’ regular gasoline remained $6.64 per gallon and diesel $9.12, also as of Sunday.
Tyron Soriano, who works two jobs in the private sector, said even a 10-cent change matters, since he spends about $100 on gas every two weeks. Although he lives near his second job in Gualo Rai, each morning he drops his eldest child at Northern Marianas College, his three other children at Northern Marianas International School in Susupe, and his wife at her workplace in Chalan Laulau.
“Whenever gas prices go up, even by 10 cents, my fuel bill tops $100,” Soriano said. “This time it’s back down to $100, and I hope it stays there — or goes even lower.”
USA Today reported last week that a ceasefire in the Middle East, announced by President Donald Trump, helped push oil prices back down ahead of the July 4 travel holiday.
On Saturday, Reuters reported that four delegates from OPEC+, which includes allies of the Organization of the Petroleum Exporting Countries, said the group was set to boost production by 411,000 barrels per day in August, following a similar-size output increase already planned for July.
“The report about an OPEC increase came out and prices cratered,” said Phil Flynn, senior market analyst with Price Futures Group, about the midday slide.
