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Shell lowers prices again by 30 cents
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Posted on Nov 26 2008
Due to the continuing decrease in market costs, Shell Marianas Inc. has once again lowered its prices for regular unleaded, V Power and diesel fuel.
Regular unleaded will be reduced by thirty cents a gallon, Shell V Power will be reduced by fifteen cents a gallon and Shell Diesel will lower by thirty cents a gallon.
“Shell’s average market cost of regular unleaded, V Power and diesel fuel products continued to decline and Shell will pass these savings on to our customers,” company president Eloy Lizama said in a statement yesterday.
The new prices will go into effect at midnight Wednesday
Shell last cut its prices on Nov. 19 by 30 cents.
There was no immediate word if Mobil Oil Marianas will also lower its prices but the two companies have traditionally mirrored each other’s price movements. Mobil does not usually issue media statements about price adjustments.
Last week, Rep. Joseph C. Reyes, chairman of the House Committee on Commerce and Tourism, wrote a letter to Shell Marianas and Mobil Marianas, asking why gas prices were 30 cents to 50 cents more than in 2007, when crude oil was trading at similar prices.
Light sweet crude oil was trading for $50.36 per barrel on the New York Mercantile Exchange yesterday.
[B]SHELL’S NEW PRICES[/B] [B]REGULAR[/B] Self-service $3.13Full service $3.26 [B]V POWER[/B] Self-service $3.45
Full service $3.57
Diesel $3.90
