MOBIL Oil Marianas and Shell Marianas rolled back their fuel prices on Friday and Saturday respectively.
This is the sixth time fuel prices went down since early July.
The regular gas price is now $5.61 a gallon from $5.71 a gallon; premium gas price dropped to $6.06 a gallon from $6.16 a gallon; and diesel is $6.58 a gallon from $6.68 a gallon.
Calvo Enterprises on Rota also reduced its fuel prices on Friday. The regular gas price on Rota went down to $7.19 a gallon from $7.34 a gallon while diesel is now $10.22 a gallon from $10.37 a gallon.
Ezra Ichikawa, a driver, said it’s always good news to see fuel prices go down, because it means he can fill his car’s tank with fuel without having to spend as much as he did before. He said he has been spending $80 on gas every two weeks.
Ichikawa said the fuel price increases in the past months hurt everyone’s pocket because fuel price hikes also affect basic commodities as well as utility costs.
According to NPR, “It’s partly a function of supply and demand. When pump prices topped $5 a gallon [in the U.S.], drivers adjusted their behavior, trying to limit how much they drove. They car-pooled, combined errands, and cut out unnecessary trips.”
NPR said “gasoline consumption in the U.S. has been about 9% lower in recent weeks than it was last summer — a pretty dramatic drop in demand.”
“At the same time, domestic crude oil supply has increased more than 6% from a year ago,” NPR added.
“Growing concern about an economic slowdown around the world has also weighed on crude oil prices, which account for about half the cost of gasoline. All of this is a recipe for lower prices at the pump,” NPR stated.
The Mobil Oil station in Chalan Kiya displays its new prices on Friday.
