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Shell follows Mobil’s 10-cent gas price reduction
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Posted on Jun 30 2011
Shell Marianas dropped its gasoline prices by 10 cents a gallon yesterday, mirroring Mobil Oil Marianas’ pump price changes on Tuesday afternoon.
Regular unleaded gasoline at Shell and Mobil service stations on Saipan is now $4.659 a gallon, which is still not far from the CNMI’s current minimum wage of $5.05 an hour.
Super unleaded gasoline now costs $4.979 a gallon.
Diesel is now $5.119 a gallon.
Tony Sison, a resident of Gualo Rai, said a 10-cent gas price cut will provide relief but he’s hoping that the prices will further go down.
“It’s harder to budget these days. Gas prices, power bills, food prices are high and I’m only a minimum wage worker,” Sison said in an interview while he was putting $8 regular unleaded gasoline on his sedan at a Shell service station in Puerto Rico yesterday afternoon.
This week’s 10-cent rollback brings to 20 cents the total gas price reduction in a month. The last 10-cent rollback was on May 26.
The price of crude oil now hovers near $93 per barrel compared to over $100 per barrel weeks ago, resulting in pump price cuts.
Despite the 20-cent total rollback in May and June, CNMI gas prices are still among the highest in the United States.
Retail pump prices are affected by a combination of factors, which include internationally traded wholesale prices, operating and capital cost, distribution costs, taxes and duties, currency exchange rates, and market competition.
