By Emmanuel T. Erediano
emmanuel@mvariety.com
Variety News Staff
THE New Year’s Eve celebration in the CNMI on Dec. 31, 2026 was greeted with a fuel price rollback, the first reduction since Thanksgiving.
Mobil Oil Marianas and Shell Marianas reduced their respective fuel prices by 10 cents on Wednesday last week.
Gasoline prices dropped from $5.06 a gallon to $4.96 a gallon, while diesel prices fell from $5.48 a gallon to $5.38 a gallon. Mobil Oil’s Supreme gasoline also declined to $5.41 a gallon from $5.51 a gallon.
On Tinian, Tinian Fuel Services’ regular gasoline was priced at $7.05 a gallon and diesel at $7.59 a gallon as of Monday. On Rota, Calvo Enterprises’ gasoline was selling for $6.44 a gallon, while diesel was priced at $9.02 a gallon.
Ranjit Saha, who has been driving a taxi on Saipan for 22 years, said it is always good to see gasoline prices go down.
“I hope there will be more gas price rollbacks,” Saha said.
The taxi flag-down rate is $2.50, with an additional 75 cents charged for every quarter mile, he said. Whenever gasoline prices increase, taxi drivers are unable to raise fares, resulting in reduced income. That is why fuel price rollbacks help drivers earn more, Saha said.
Steepest annual fall
On Thursday, Jan. 1, The Guardian reported that oil markets “have recorded their steepest annual fall since the Covid pandemic and could be on track to plummet further as oil producers continue to pump more crude than needed by the global economy.”
According to The Guardian, “Oil prices slumped by almost 20% in 2025, marking the biggest annual loss since 2020 and the first time that the oil market has recorded three consecutive years of annual losses.”
“The steady slide in prices has emerged despite ongoing conflict in some of the world’s most important energy-producing regions due to a ‘cartoonishly’ oversupplied market, according to analysts.”
Emmanuel “Arnold” Erediano has a bachelor of science degree in Journalism. He started his career as police beat reporter. Loves to cook. Eats death threats for breakfast.
