Mobil Oil Beach Road in Susupe displays its gasoline prices on Friday.
Photo by Emmanuel T. Erediano
AFTER an increase late last month, gasoline prices were rolled back on Friday. Mobil Oil on Saipan reduced its regular gasoline price to $5.06 per gallon from $5.16, and its premium gasoline price to $5.51 from $5.61. The diesel price remains at $5.289 per gallon.
Shell Marianas has followed suit.
On Tinian, Tinian Fuel Services’ regular gasoline price was still $7.12 a gallon and the diesel price remained $7.40 a gallon as of Sunday.
On Rota, Calvo Enterprises reduced its regular gasoline price to $6.44 a gallon from $6.54 a gallon and the diesel price to $9.22 a gallon from $9.42 a gallon on Saturday.
Saipan resident Philip Canuto said a 10-cent change in fuel prices “may not be that much” for some, but in the long run, if prices keep rising — even by just 10 cents — the impact will be felt, especially by those who run a business like he does.
The gas price matters a lot to many island residents, he added.
Reuters has reported that oil prices fell over 1% lower on Friday and recorded “their biggest weekly losses since the end of March, as traders turned cautious ahead of an OPEC+ meeting to decide the group’s output policy for June.”
Oil traders “braced for more supply from the group, at a time when fears of an economic slowdown caused by a trade war between the U.S. and China have prompted market experts to lower demand growth expectations for this year,” Reuters added.
