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Shell prices drop again
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Posted on Aug 27 2008
Shell gasoline stations in the CNMI have lowered prices for the fourth time in recent weeks despite a minor increase this week in oil prices linked to fears over the impact of tropical storms on energy platforms in the Gulf of Mexico.
In a statement Wednesday, Shell of Guam president Eloy Lizama said prices at local stations for unleaded gas would drop by 10 cents per gallon beginning last night, while diesel prices would drop by 15 cents per gallon.
“From our most recent price reduction on August 16th, we continued to see a decline in Shell’s cost of regular unleaded and diesel fuel products,” Lizama said. “Shell will pass these savings onto our customers and lower the price for Shell Regular Unleaded and Shell Diesel.”
The price change brings the cost of regular, self-serve gas to $4.48 per gallon at Shell stations. Full service regular gas falls to $4.61 per gallon. Diesel prices drop to $5.35 per gallon.
Shell’s statement did not say whether prices for premium gas, $4.75, would change.
The price drop had yet to take effect at Shell stations as of press time.
Shell’s price dip comes as global oil prices on Wednesday spiked slightly to $117 per barrel amid fears that a tropical storm in the Gulf of Mexico will damage oil operations there. This price pales in comparison, however, with the record $147 high seen earlier this summer.
The CNMI’s gas prices remain far higher than those on the United States mainland, according to data from AAA. The national average price for a gallon of regular gas now stands at $3.66 per gallon, for example, down 29 cents below the average one month ago.
REGULAR*
Self Serve $4.48
Full Serve $4.61
DIESEL $5.35
*figures based on previous price
