Mobil Oil Marianas on Middle Road in Garapan displays its new prices on Wednesday.
MOBIL Oil Marianas on Wednesday afternoon reduced its gas prices by 10 cents and diesel price by 5 cents. It was the second fuel price rollback in two weeks.
Mobil Oil’s regular gas price went down to $5.56 a gallon from $5.66 a gallon; its premium gas price went down to $6.01 a gallon from $6.11 a gallon; and its diesel price went down to $6.18 a gallon from $6.23 a gallon.
Shell Marianas is expected to follow suit.
Calvo Enterprise on Rota also reduced its gas price on Wednesday afternoon. Its regular gas price went down to $7.14 a gallon from $7.24 a gallon. However, it had yet to reduce its diesel price. As of 3:30 p.m. Thursday, Calvo Enterprise’s diesel price was still $10.45 a gallon.
Tinian Fuel Services had yet to implement the price rollback. As of Thursday afternoon, its regular gas price was $7.51 a gallon while its diesel price was $8.04 a gallon.
Francisco C. Ada/Saipan International Airport parking lot attendant Jose Espino said the latest price rollback is good news. He is hoping that the prices of other commodities as well as rent and the fuel adjustment charge or FAC in the power bill will also go down.
He said salaries should also go up so people can catch up with the increasing prices of grocery items.
According to Reuters, oil prices settled down more than $5 on Wednesday as fuel demand destruction and a bleaker macroeconomic picture took center stage in the day’s trade.
“Brent crude oil futures settled down 5.11, or 5.6%, to $85.81 a barrel while U.S. West Texas Intermediate crude fell $5.01, or 5.6%, to $84.22,” Reuters reported.
“At their session lows, both benchmarks were down by more than $5, and heating oil and gasoline futures also fell by more than 5%. Crude oil prices have fallen by about $10 since last week’s settlement,” Reuters added.
