MOBIL Oil Marianas on Tuesday raised its prices by 15 cents for the second time this month. Shell is expected to follow suit.
Mobil Oil on Beach Road in Garapan displays its new prices on Tuesday.
Mobil’s regular gas price went up to $5.11 a gallon from $4.96 a gallon; the premium gas price increased to $5.56 a gallon from $5.41 a gallon; and the diesel price is now $5.38 a gallon from $5.23 a gallon.
Community volunteer Max Aguon said he is lucky that JEM Co. Ltd., a local company that operates three Mobil gas stations on island, continues to provide him a monthly gasoline allowance for his regular cleanup activities.
Aguon is hoping that gas prices will go down soon especially in these times of economic hardship due to the Covid-19 pandemic.
“A lot of people right now have no job, so the increasing price of fuel and other basic commodities will result in more hardship,” Aguon said.
On Tuesday, Reuters reported that benchmark oil prices climbed to their highest level since 2014 “as possible supply disruption after attacks in the Mideast Gulf added to an already tight supply outlook.”
“The consensus is that the situation will not improve in the foreseeable future and oil demand growth together with supply constraints is inevitably leading to a tighter oil balance,” an analyst told Reuters.
