MOBIL Oil Marianas on Tuesday raised its prices by 20 cents. Shell is expected to follow suit.
The regular gas price went up to $5.46 a gallon from $5.26 a gallon; the premium gas price to $5.91 a gallon from $5.71 a gallon; and diesel now costs $5.78 a gallon from $5.58 a gallon.
The afternoon gas price hike — the fourth this year — shocked Brian Adelbai who works in the private sector. “What can we do? Even the government doesn’t have control over prices. Now, all we can do is just stop going around and wasting gas,” he added.
He said amid the “continuous” fuel price hikes, people should only go out when necessary. “Like if you need to buy something from the store, or you have to visit your doctor,” Adelbai added.
In his line of work, he drives everyday but the company pays for the fuel expenses. This means that the cost of doing business will also rise, he added.
The New York Times on Monday reported that oil and gas prices “have been marching upward for months as exporting countries like Libya have struggled with production problems and demand has rapidly recovered after two years of the pandemic. But all of that pales in comparison with what could happen if a war in Eastern Europe and potential Western sanctions on Russia curtail that country’s production, analysts said.”
According to the Times, “A Russian invasion of Ukraine could drive up already high oil and natural gas prices, prolonging elevated inflation around the world….”
The Times stated that oil prices “have risen to well over $90 a barrel — their highest levels since 2014 — in recent days as fears of war have grown. Many energy experts say an invasion would easily propel the price above $100 a barrel.”
The Mobil Oil Marianas in Chalan Kiya displays its new prices on Tuesday afternoon.
