An attendant of Mobil Oil Marianas on Beach Road in Garapan walks back to work after taking a break on Thursday.
MOBIL Oil Marianas and Shell Marianas raised their fuel prices by 10 cents, five hours apart on Wednesday. Over the years, it’s been rare for both companies to adjust their prices on the same day. Typically, either Mobil Oil or Shell would initiate the change, followed by the other.
It’s the third fuel price hike this year.
The regular gas price on Saipan went up to $5.56 a gallon from $5.46 a gallon; Mobil Oil’s premium gas price increased to $6.01 a gallon from $5.91 a gallon; and the diesel price rose to $5.93 a gallon from $5.83 a gallon.
Following last week’s fuel price hike, Tinian Fuel Services’ regular gas price was $7.34 a gallon and the diesel price was $7.68 a gallon. As of press time Thursday, Tinian had yet to raise its fuel prices again.
On Rota, Calvo Enterprises did not raise its fuel prices on Thursday either. Its regular gas price was still $6.84 a gallon and the diesel price remained $10.07 a gallon.
Radio host Jimmy Blancia, who spends $40 on gasoline every two weeks, said whenever fuel prices increase the prices of other basic commodities usually increase as well.
He said people’s income should also increase especially as prices seem to be increasing all the time.
Construction contractor Manny Cisnero said the increase in fuel prices has a big impact on the operation of his small company. So far, he has chosen not to pass the additional cost to his clients because doing so could make it very hard for him to win project bids.
Tensions
Reuters reported on Tuesday that oil prices settled higher as geopolitical tensions continued in the Middle East and eastern Europe.
“On Monday, oil prices were near flat after gaining 6% last week, with the conflict in the Middle East keeping prices elevated,” Reuters stated.
Quoting sources, Reuters said the U.S. rejected Russian President Vladimir Putin’s suggestion of a ceasefire in Ukraine.
According to Reuters, “Fears of further escalation of the war in the Middle East also stoked worries about the oil supply outlook.”
