By Emmanuel T. Erediano
[email protected]
Variety News Staff
ABOUT three weeks after the last rollback, the price of diesel went down again on Monday — this time by 40 cents.
Late last month, Mobil Oil and Shell Marianas reduced their diesel prices by 30 cents. On Monday, the price dropped by an additional 40 cents.
The diesel price on Saipan fell to $6.68 a gallon from $7.08 a gallon. Regular gasoline remains $6.11 a gallon, and Supreme gasoline is still $6.56 a gallon as of Wednesday morning.
On Tinian, diesel was priced at $9.49 a gallon and gasoline at $8.44 a gallon. On Rota, diesel was $10.42 a gallon and regular gasoline was $7.49 a gallon.
Mountain Construction Corp. owner Mountain Joo said the price drop is good news because he uses diesel for his service trucks. Joo noted that lower fuel prices help construction companies cut expenses, and he hopes prices will continue to trend downward.
Joo added that as a ratepayer, he also hopes the Commonwealth Utilities Corp. will reduce its fuel adjustment charge in response to the consecutive drops in diesel prices.
On Tuesday, The Wall Street Journal reported that oil futures had fallen for a fourth consecutive session as a U.S.-Iran agreement raised expectations of a swift recovery in oil flows from the Middle East.
Quoting Phil Flynn of the Price Futures Group, the Journal said reports that Qatar could restore much of its lost LNG production within a couple of months “may be a signal that damage to infrastructure in the [Iran] war might not be as bad as some feared.”
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.
