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Gas prices continue to drop
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Posted on Mar 04 2020
Gas prices continue to roll back with Mobil Oil Marianas lowering its prices by 10 cents yesterday morning. (KIMBERLY A. BAUTISTA)
Gas prices in the Marianas continue its downward trend, much like everywhere else in the world due to the recent outbreak of the novel coronavirus or COVID-19.
At 10am yesterday, Mobil Oil Mariana Islands Inc. lowered gas prices by another 10 cents, a little over a month since the last rollback in February.
Mariana Acquisition Corp., which owns Shell Marianas, has yet to lower its gas prices but is expected to follow suit as they’ve done in the past, according to a source.
As of yesterday morning, Mobil reduced its prices from $4.039 per gallon of Extra fuel to $3.939 per gallon, while its Supreme fuel price went down from $4.489 a gallon to $4.389. Diesel fuel prices also saw a 10-cent decrease, from $4.419 per gallon to $4.4.319 per gallon.
The rollback in gas prices has been a worldwide trend following the outbreak of COVID-19. According to various media outlets, the uncertainty of China’s economy, with the number of people sick, is contributing to the drop in gas prices since China is one of the world’s largest importers of oil.
With many sick in China as a result of the COVID-19 outbreak back in December, cars are not being driven, therefore the demand for fuel in China is at a record low.
The downward trend is also attributed to the season as the demand for fuel is lower toward the summer as it is in the winter.
According to an individual who requested to remain anonymous, with people losing their jobs and working half the hours they used to as a result of the COVID-19 outbreak, a decrease in gas prices is a small relief.
“I’ll take what I can get at this time,” the person said.
According to Saipan Tribune archives, the first gas price rollback for 2020 was back in Feb. 5. Mobil and Shell gas stations reduced gas prices from $4.139 per gallon of Extra fuel to $4.039 per gallon while their Supreme fuel price went down from $4.589 a gallon to $4.489. Diesel fuel prices also saw a 10-cent decrease, from $4.519 per gallon to $4.419 per gallon.
