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Shell hikes fuel prices anew
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Posted on Sep 27 2005
Shell gas stations on Saipan raised pump prices for the second time this month by up to six cents per gallon. This new round of price increases—effective at the close of business yesterday—is Shell’s 12th for Saipan this year.
Shell Marianas Inc. president Phil Stalker said increasing supply costs prompted the company’s decision to hike retail prices anew. Shell adjusted pump prices by up to 6 cents per gallon last Sept. 8.
“Although a modest decrease in the price of crude has been reported in the international media, this has not yet translated into lower cost of finished product in Singapore,” Stalker said in a media release.
Shell hiked the gallon prices of regular and premium gasoline by 6 cents, and diesel, by 4 cents.
Shell’s new gallon prices are $3.299 and $3.459, respectively for regular and premium gasoline at full-serve rate. Its self-serve rate is now at $3.169 and $3.339 per gallon. The price of diesel increased to $3.349 per gallon at full-serve rate.
Shell had just adjusted pump prices thrice last month by up to 8 cents per gallon per adjustment, except last Aug. 30, when the gallon price adjustment only reached up to 6 cents. It had increased gas prices on Aug. 9 and on Aug.17.
For this year, Shell had rolled back pump prices only twice—in January and May. It has been increasing pump prices almost every month. Last July, Shell implemented upward gallon price adjustments twice—by up to 7 cents beginning July 7 and by 6 cents the following week.
Mobil Oil Mariana Islands, Inc. has made no announcement yet if a similar price adjustment would follow. Mobil’s pump prices have reached as high as $3.459 per gallon.
Mobil stations on Saipan peg full-serve gallon prices at $3.299, $3.459, and $3.329 for unleaded and super unleaded gasoline and diesel, respectively. Self-serve rates have reached $3.129, $3.299, and $3.279.
Recently, the CNMI government has joined a multi-state inquiry into rising fuel prices across the nation following the destruction caused by Hurricane Katrina in New Orleans.
