SHELL Marianas on Wednesday increased its fuel prices by 10 cents. It was the third fuel price hike in August.
Mobil Oil Marianas, as of 4:30 p.m. Thursday, had not changed its fuel prices, but was expected to follow suit.
Shell’s gas price went up to $5.66 a gallon from $5.56 a gallon, and the diesel price to $6.08 a gallon from $5.98 a gallon.
Tinian Fuel Services’ regular gas price was $7.39 a gallon and the diesel price was $7.79 following the last fuel price hike two weeks ago. On Rota, Calvo Enterprises increased its regular gas price to $7.04 a gallon from $6.99 a gallon, and its diesel price to $10.07 a gallon from $9.92 a gallon on Aug. 5, 2023.
Construction worker Bong Baluyot, who spends $50 on gasoline every two weeks, said the price increase means a reduction of his take-home income. He said he will have less money to buy other commodities.
According to Reuters, “Oil prices rose on Thursday, boosted by a large drawdown in U.S. crude inventories and production cuts by OPEC+, but a slowdown in China’s manufacturing activity limited gains.”
“Brent crude futures for October, expiring on Thursday, rose 45 cents, or 0.5%, to $86.31 a barrel by 1004 GMT. The more active November contract was up 25 cents, or 0.3%, at $85.49,” Reuters added.
“With Brent prices having stalled in the mid-$80s…the prospect of…Saudi barrels returning to the market any time soon looks slim and the impact is increasingly being felt across the world as commercial stock levels of crude and fuel products continue to drop,” Saxo Bank analyst Ole Hansen told Reuters.
Shell Marianas on Middle Road in Gualo Rai displays its prices on Wednesday.
