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CNMI sees 11-cent rollback in gas prices
After weeks of seeing fuel prices rise, the CNMI finally saw a rollback, with oil companies reducing their prices by 11 cents. (KIMBERLY B. ESMORES)
After weeks of seeing fuel prices rise, the CNMI finally saw a rollback in oil prices yesterday, with Mobil Oil reducing its prices by 11 cents.
Over two weeks since the last increase, Mobil Oil reduced its prices, with its Extra fuel dropping from $ 5.17 a gallon to $5.06. Mobil also dropped its Supreme fuel from $5.62 to $5.51 while its diesel rolled back from $5.43 a gallon to $5.33.
Mobil Oil Marianas took the lead in reducing fuel prices early yesterday morning.
Shell Marianas had yet to reduce its prices as of 6:30pm press time but both oil companies typically mirror each other’s price changes, so Shell is expected to impose the same reduction today.
According to a 19-year-old Northern Marianas College student, as a working student, an 11-cent reduction is a sigh of relief because every cent counts.
“That extra 11 cents add up when you’re driving around every day with classes, work, and on-the-job training. It’s like a breath of fresh air to finally see the number roll back a little. I hope it continues to go down from here,” she said.
Another motorist, a 47-year-old, said he isn’t hopeful yet as he expects the prices to go up in the next few weeks.
“We’ve already seen this before. They give us hope that we’ll start seeing prices go down but the next week or so, it’s going to be higher than before. Best believe this is the same thing. I’ll gas up now while its down because for sure gas will probably be $6 in the next month or two,” he said.
Last Oct, 29, the Commonwealth Utilities Corp. increased its Fuel Adjustment Charge due to the international fuel oil prices. As of Nov. 1, the FAC went up from $0.19355 per kWh to $0.23296 per kWh.
