Mobil Oil Marianas on Middle Road in Garapan displays its new prices on Tuesday.
FUEL prices on Saipan are down for the third time since May.
Mobil Oil Marianas and Shell Marianas reduced their fuel prices on Tuesday and Wednesday, respectively, by 10 cents. It was the first fuel price rollback this month. In May, the prices went down twice.
The regular gasoline price on Saipan is now $5.36 a gallon from $5.46 a gallon; the premium gas price is $5.81 a gallon from $5.91 a gallon; and the diesel price is $5.63 a gallon from $5.73 a gallon.
Tinian Fuel Services had yet to implement Tuesday’s rollback, but it reduced its regular gas prices two weeks ago to $7.34 a gallon from $7.49 a gallon. Its diesel price was still $7.78 a gallon.
On Rota, Calvo Enterprises received an advisory about the fuel price rollback effective June 5, 2024. A staffer said they would reduce their prices as soon as their old supply runs out.
As of Wednesday, the regular gas price on Rota was $6.84 and the diesel price was $10.17.
Sales associate Grace Bautista said it’s always good to see gasoline prices going down because she drives almost every day from her home in Chinatown to her children’s school in Koblerville, then to her work in Gualo Rai.
Right now, she spends an average of $120 on gasoline every payday. Bautista said that to cut her costs, she bought a smaller car that consumes less fuel.
Reuters reported on Tuesday that oil prices fell more than $1 a barrel “on skepticism about an OPEC+ decision to boost supply later this year into a global market where demand has already shown signs of weakness.”
“Extending losses from a four-month low reached on Monday, Brent crude futures settled down 84 cents, or 1.07%, at $77.52 a barrel. Brent’s closing price on Monday was below $80 for the first time since Feb. 7 after falling more than 3%,” Reuters said.
It added that OPEC+’s decision “adds jitters about oversupply in an environment where traders are already spooked about high interest rates hampering global economic activity. A steady flow of dim signals from major economies such as the U.S., China and Europe suggests that their appetite for oil may not be as healthy as hoped through the rest of the year.”
