A gas attendant fills the tank of a customer’s vehicle at Shell Dandan on Wednesday.
AFTER a series of price rollbacks last month, Shell Marianas on Wednesday raised its fuel prices by 10 cents. It’s the first fuel price hike this month.
Mobil Oil Marianas is expected to follow suit.
Shell’s gasoline price rose to $5.26 a gallon, up from $5.16, while diesel increased to $5.439 a gallon, up from $5.339.
Tinian Fuel Services’ gasoline price was $7.07 a gallon and diesel was $7.42 a gallon as of Wednesday afternoon.
On Rota, Calvo Enterprises’ gasoline price was $6.64 a gallon, and the diesel price was $9.87 a gallon.
Commonwealth Ports Authority Parking Booth Supervisor Joselito Espino said the price hike was “bad timing.” Right now, he said, things are getting harder, many people are losing their jobs as many businesses continue to struggle.
Espino, who spends $180 on gasoline each month, said the fuel price increase will also affect the prices of other commodities.
According to Financial Times, “Oil prices surged above $80 on Monday as fears grow of an escalating conflict in the Middle East and possible supply disruptions in the U.S. Gulf of Mexico from a major hurricane.”
Brent crude, the global oil benchmark, rose 3.7% to settle at $80.93 a barrel, the highest since August, as the Middle East braced for the possibility of Israeli strikes on Iranian oil facilities in retaliation for rocket attacks last week, Financial Times reported.
“Oil prices are now up almost 20 per cent since hitting a year-to-date low in early September.
“Phil Flynn of the Price Futures Group said: ‘They are moving on the risk that Israel may attack Iranian oilfields and the risk that Hurricane Milton will become a massive storm that will hit Florida and shut in Gulf of Mexico oil and gas production.’ ”
