Mobil Oil on Beach Road in Garapan displays its fuel prices on Thursday.
MOBIL Oil Marianas on Thursday reduced its gasoline prices by 10 cents and diesel price by 30 cents — the fifth fuel price rollback since September.
Mobil Oil’s regular gasoline price went down to $5.26 a gallon from $5.36 a gallon; premium gasoline price to $5.71 a gallon from $5.81 a gallon; and diesel price to $5.68 a gallon from $5.98 a gallon.
Shell Marianas is expected to follow suit.
On Rota, a Calvo Enterprises employee said they were expecting the arrival of their fuel supply today, Friday, so they would reduce their prices as well. As of 5 p.m. Thursday, their regular gas price was $6.84 a gallon while diesel cost $10.12 a gallon.
Tinian Fuel Services had yet to implement the latest rollback. Its regular gas price was $7.22 a gallon and diesel price was $7.52 a gallon following last month’s fuel price decrease.
Delbert Camacho, the Legislative Bureau’s information technology technician, said he feels good whenever he sees the gas prices go down especially now that the CNMI’s economy is struggling.
He hopes that there will be another fuel price rollback before Christmas.
He said he spends up to $120 worth of gasoline every payday for his Toyota Tacoma.
Camacho, who lives in Dandan, said he believes he’s doing “pretty good” in conserving gas.
Global fuel demand
Reuters reported that “oil prices fell nearly 4% on Wednesday to their lowest settlements since June, as worries about global fuel demand mounted after U.S. data showed a larger-than-expected rise in gasoline inventories.”
According to Reuters, “Brent crude futures settled down $2.90, or 3.8%, at $74.30 a barrel. U.S. WTI crude futures fell by $2.94, or 4.1%, to $69.38 a barrel.”
Concerns over China’s economic health and future fuel demand also weighed on prices, a day after credit rating agency Moody’s lowered the outlook on China’s A1 rating to negative from stable, Reuters said.
