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Shell gas prices up 6 cents today
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Posted on Apr 13 2006
Shell Marianas Inc. will increase its prices by six cents per gallon of gasoline and diesel fuel effective this afternoon at the close of business. This is the third time that Shell increased its prices since January this year.
Shell Marianas president Ruben Domingo said yesterday that this latest price adjustment is due to continued oil price increases in the region, which have reached “near record levels.”
He said Shell buys fuel at about $80 a barrel in Singapore.
“Shell has to increase its retail price of unleaded, premium gasoline and diesel fuel effective close of business April 14. Oil products in the region have continued to increase and are being traded at near record levels. This requires us to adjust our prices to maintain alignment with our supply cost,” Domingo said in a statement.
Beginning this afternoon, Shell service stations on island will be selling premium gasoline at $3.279 a gallon, regular gas at $3.109 a gallon, and diesel at $3.269 per gallon.
Shell made the same rate adjustment of 6 cents in January and March this year.
Last year, Domingo said the company rolled back its prices three times—12 cents in October, 6 cents in November, and 6 cents in December.
But it increased pump rates by at least 12 times in 2005 for a cumulative gallon price adjustment of up to 67 cents.
Domingo said Shell is closely monitoring supply costs to be able to reduce its pump prices as soon as possible.
“We are aware of the impact the continuing price increases have on our customers. We are controlling operating expenses and monitoring supply costs so we will be able reduce our pump prices as soon as possible,” he said.
It is not known yet if Mobil Marianas would also increase its retail prices.
Late last month, Mobil implemented a gas price hike of 6 cents a gallon without a media announcement.
