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CNMI sees 20-cent drop in fuel prices
Just days into September, the CNMI saw one of its largest rollbacks in fuel prices with oil companies across Saipan reducing its fuel prices by 20 cents.
Last Saturday, oil companies on Saipan reduced its fuel prices by 20 cents with regular fuel now at $5.41 per gallon from $5.61.
Mobil Oil Marianas, aside from reducing its regular or Extra fuel to $5.41, also reduced its Supreme fuel from $6.06 per gallon to $5.86 per gallon, while Diesel increased by 10 cents from $6.58 per gallon to $6.68.
The CNMI has seen a consistent downward trend in fuel prices for the last two months.
Starting on the first week of July, the CNMI saw a series of rollback with fuel dropping from $6.56 per gallon of regular fuel from the beginning of the month, to now at $5.71.
The first rollback was seen on July 4, with local oil companies reducing its prices by 15 cents from $6.56 to $6.41. Then, just 24 hours later, in the early hours of July 7, the CNMI saw the largest rollback by far when oil companies dropped their prices by 25 cents from $6.41 to $6.16. The third rollback of July was seen last July 14, with fuel prices dropping to $6.01. The fourth rollback was seen last July 20 with fuel dropping another 15 cents from $6.01 to $5.86. Then, just six days later, on July 26 the last rollback for the month of July brought fuel down from $5.86 to $5.71.
The most latest rollback was seen around the first week of August when fuel went from $5.71 to $5.61.
According to a 23-year-old local motorist, she said she just hopes the trend continues.
“I don’t want to jinx it, but I’m really hopeful that this trend continues or at least the gas stays as it is now,” she said.
Another motorist said that he only hopes that the continuous reduction in fuel prices reflects on his utility bill.
“Now if only the Commonwealth Utilities Corp. would follow suit. Gas has been going down for months but my power has not. I just hope we see the same reduction in our power bill soon,” he said.
