The Mobil Oil gas station on Beach Road in Garapan displays its new fuel prices.
MOBIL Oil Marianas and Shell Marianas reduced their fuel prices on Wednesday and Thursday respectively — the fourth fuel price rollback since September.
Mobil Oil’s regular gas price went down to $5.36 a gallon from $5.46 a gallon; the premium gas price to $5.81 a gallon from $5.91 a gallon; and diesel price to $5.98 a gallon from $6.08 a gallon on Wednesday afternoon.
Shell Marianas and Calvo Enterprises on Rota followed suit on Thursday morning.
The regular gas price on Rota went down to $6.94 a gallon from $7.04 a gallon and the diesel price to $10.22 a gallon from $10.32 a gallon.
Tinian Fuel Services had yet to implement Wednesday’s rollback. Its regular gas price was $7.31 a gallon while the diesel price was $7.89 a gallon as of Thursday.
Tinian Little League Baseball Association’s chief umpire Joe Kiyoshi said, “I am very glad that Mobil and Shell got the opportunity to reduce the fuel prices. But globally, it’s showing the ups and downs of the oil industry.”
He believes that the CNMI government should look at the price changes in other basic commodities, “and a lot of other issues.” The fuel prices on Tinian, he added, affect everything.
Reuters on Monday reported that oil prices “slipped more than 3%…as fears eased that the Israel-Hamas war would disrupt supply from the region, and as investors grew cautious ahead of this week’s U.S. Federal Reserve meeting.”
According to Reuters, Brent crude futures settled at $87.45 a barrel, down $3.03, or 3.35%, while U.S. West Texas Intermediate crude finished at $82.31 a barrel, down $3.23, or 3.78%.
“The main feature here has been the market reacting to events between Israel and Hamas,” Jim Ritterbusch, president of Ritterbusch & Associates, a consulting firm that provides energy research to the oil and financial industries, told Reuters.
