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Gas prices drop on Saipan
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Posted on Oct 24 2008
Shell and Mobil gas stations on Saipan lowered prices Friday by 15 cents, a move that comes after the global price of crude oil in recent months has fell 55 percent since hitting record highs over the summer.
Shell Marianas announced the price change in a statement Friday, noting the decline in market costs. Mobil stations also reported changing their prices the same day. The price per gallon of regular, self-served gasoline on Saipan now stands at $4.02 cents. Full service regular gas comes to $4.15 per gallon. Premium gas costs $4.19 per gallon self-served and $4.31 per gallon for full service. Diesel prices come to $4.79 per gallon. The price changes took effect at noon.
The drop in gas prices could be due in part to a rapid decline in the price of oil. After reaching $147.27 per barrel in July, crude oil prices at the close of the New York Mercantile Exchange Friday were at $66.63, down 1.8 percent from earlier in the week.
According to AAA, the CNMI still has far higher gas prices than the average seen on the American mainland. The current national average price for a gallon of regular gas is at $2.82, the exact same price seen one year ago.
[B]NEW FUEL PRICES[/B] [B]REGULAR[/B] Self-service $4.02Full-service $4.15 [B]PREMIUM[/B] Self-service $4.19
Full-service $4.31 [B]DIESEL[/B] $4.79
