Previous Story
‘Tinian gas prices stable but relatively high’
|
Posted on Oct 25 2005
The Federal Trade Commission has found that the markup on Mobil’s fuel prices on Tinian had been stable but relatively high compared to the national average, noting the variation of fuel prices on Saipan, Rota and that island.
The findings are part of the FTC’s probe on Mobil’s pricing scheme in the Northern Marianas, which the Attorney General’s Office requested.
CNMI consumer counsel Brian Caldwell said he would look into the FTC’s findings, while he vowed to continuously monitor fuel price adjustments in the CNMI.
There has been no plan yet regarding a possible lawsuit, although Caldwell noted that attorneys general in other states have begun initiating court actions against fuel retailers within their respective jurisdictions on allegations of price gouging.
Caldwell said the FTC’s findings were based on Mobil’s documents, which the AGO subpoenaed earlier this year, to find out if the company’s business practices regarding pricing constitute unlawful conduct.
Caldwell said the FTC couldn’t say whether the situation on Tinian’s fuel prices has been the same as Rota’s, but added that Saipan’s prices weren’t “too out of line.”
Caldwell sought the FTC’s probe following complaints that Mobil’s pump prices on Rota and Tinian breached $3 per gallon, when both Mobil and Shell were rolling back fuel prices on Saipan late last year.
To date, however, even Mobil’s prices on Saipan have reached nearly $3.50 a gallon due to consecutive price adjustments almost every month.
Mobil’s gallon prices on Saipan for regular and super gasoline, respectively, have reached $3.239 and $3.399 at full-serve rates, and $3.069 and $3.239 at self-serve rates.
A Mobil gas station on Tinian disclosed that it is retailing regular gasoline at $3.51 per gallon. Mobil’s fuel prices on Rota were not immediately available.
