By Emmanuel T. Erediano
emmanuel@mvariety.com
Variety News Staff
FOUR months after the last rollback in June, the prices of gasoline went down again on Wednesday morning.
Both Mobil Oil Marianas and Shell Marianas reduced the price of their gasoline to $5.06 a gallon, down from $5.16 a gallon. The price of diesel remains at $5.43 a gallon.
Mobil Oil’s Supreme gasoline also went down to $5.51 a gallon from $5.61 a gallon.
On Tinian, the regular gas price at Tinian Fuel Services as of Wednesday morning was $7.14 a gallon, while diesel was $7.58 a gallon.
On Rota, Calvo Enterprises’ regular gasoline price was $6.54 a gallon, and diesel was $9.12 a gallon. Both companies had yet to adjust their prices.
Auto mechanic Ronnie Palero said the price cut is good news. “A 10-cent cut in the price already matters when you’re buying $40 worth of gasoline, for example,” he said. For his old-model sedan, that’s about what he spends every week. But for the new-model SUV that he and his wife also use every day, they spend only about $30.
According to Reuters, oil prices settled at their lowest levels since early May on Monday as investors weighed a potential global glut, with U.S.-China trade tensions adding to concerns about an economic slowdown and weaker energy demand.
“Brent crude futures settled down 28 cents, or 0.46%, at $61.01 a barrel. U.S. West Texas Intermediate futures settled down 2 cents, or 0.03%, to $57.52,” Reuters reported.
“Both benchmarks fell more than $1 earlier in the session and closed at their weakest levels since early May. Oil traders’ concerns have shifted from under-supply to over-supply, the futures contract structure of the global benchmark Brent showed.”
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.
