Gas price rollback ‘good timing,’ says former speaker

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THE rollback in gas prices over the weekend comes at a good time, said former Speaker Pedro “Paduna” Guerrero.

Raul, a gas attendant, stands next to a gas pump at the Mobil station in Susupe on Monday.  Photo by Emmanuel T. Erediano

The prices of gasoline and diesel at Mobil Oil Marianas and Shell Marianas went down by 10 cents.

From $4.13 a gallon, the price of Mobil’s regular gasoline is now $4.039 a gallon.

Shell serves only “supreme gasoline” whose price per gallon also went down to $4.039.

From $4.58 a gallon, the price of Mobil’s “supreme” went down to $4.48 a gallon, while the price of diesel went down to $4.41 from $4.56 a gallon.

In an interview, Guerrero noted the looming government budget cuts and the implementation of a 64-hour work schedule.

“So the price rollback is good timing under these dire circumstances — I hope to see the price [going] down again, soon,” Guerrero said.

This is the first gas price rollback after the price was increased twice.

Guerrero said in case the prices of gasoline go up again, the governor and the Commerce secretary have the “responsibility” to look into it.

ABC News has reported that the “spread of the novel coronavirus has driven down the price of oil and gasoline in the U.S. as China, the world’s second largest oil consumer, is trying to quell the outbreak.”

“Coronavirus represents a real threat to oil demand,” Patrick DeHaan, the head of petroleum analysis at GasBuddy, told ABC News. “We are already looking at a real downturn in demand. You’re looking at thousands of flights being cancelled in China,” he added.

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