MOBIL Oil Marianas on Thursday increased its gasoline prices by 15 cents. Shell Marianas is expected to follow suit.
Mobil’s regular gas price went up to $5.41 a gallon from $5.26 a gallon while its premium gas price went up to $5.86 a gallon from $5.71 a gallon. The price of diesel remains $5.73 a gallon.
The last gas price hike was less than a week ago.
Tinian Fuel Services had yet to implement the latest gas price hike. Its regular gas price on Thursday was still $7.049 a gallon while its diesel price was still $7.64 a gallon.
On Rota, Calvo Enterprises’ gas price was still $6.74 a gallon and its diesel price was $9.67 a gallon.
Amy Guanlao, an accountant, said it’s unfortunate that gasoline prices are increasing again at the time when people on island are struggling.
Guanlao, who spends $20 a week on gasoline, said it is already getting hard to budget their household expenses when the prices of basic commodities are going up due to inflation. “Dealing with gas price increases will be very hard especially for those who have children attending school,” she said.
The Washington Post reported on Monday that gas prices “are expected to jolt upward, threatening to add fresh uncertainty to the economy and increase the cost of summer travel, after Saudi Arabia and other major oil exporters significantly slashed production on Monday, ignoring demands from the White House.”
According to the Post, “The pullback by the oil-producing bloc known as OPEC Plus was framed as a ‘precautionary measure’ to ensure stability in the energy market and came despite earlier signals that it would make no further reductions this year. As a result, several top investment banks predicted that crude prices could again hit $100 a barrel.”
Mobil Oil Marianas on Beach Road in Garapan displays its prices on Thursday.
