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Shell hikes fuel prices anew
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Posted on Jul 06 2005
Motorists gassing up at Shell gas stations on Saipan would have to pay more for fuel, with Shell Marianas Inc. disclosing another round of price increases of up to 7 cents a gallon effective last midnight.
Gallon prices of gasoline now hover around $3. Shell gas stations increased the gallon price of regular gasoline by 5 cents; and those of premium gasoline and diesel, 7 cents each. The new round of price adjustments at the pump followed a similar move implemented by Shell about two weeks ago.
In a media statement, Shell Marianas president Phil Stalker said high global oil prices have been pushing up the costs of refined products, prompting the company to implement another increase in pump prices “to keep up with the sharp incline in our supply costs.”
“Gasoline and diesel are currently trading at or near record cost levels. The costs of finished products have been affected by pressures put on supply and manufacturing as they try and keep pace with global demand,” Stalker said.
“Shell is aware of the impact rising prices have on our customers and we continue to work on reducing operating expenses while monitoring supply costs, so we are able to reduce prices at the pump as soon as possible,” assured Stalker.
Shell stations now peg new gallon prices of regular and premium gasoline at $2.919 and $3.059, respectively, at full-serve rate. Their self-serve rate now sells at $2.789 and $2.939 per gallon. The price of diesel increased to $3.079 per gallon at full-serve rate.
