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Downward trend in fuel prices continues
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Posted on Aug 11 2022
The downward trend in fuel prices in the CNMI continues, with oil companies reducing their prices by another 10 cents over the weekend.
Last Friday, Mobil Oil Marianas reduced its fuel prices by 10 cents followed by Shell Marianas, which dropped its prices early Saturday morning.
As of last weekend, regular fuel across Saipan dropped from $5.71 per gallon to $5.61. Meanwhile Mobil dropped its Supreme fuel from $6.16 per gallon to $6.06, while diesel went down from $6.68 per gallon to $6.58.
The price of fuel in the Marianas has been steadily decreasing since the start of July and as summer comes to an end, prices are expected to remain relatively low.
As of last weekend, fuel prices have dropped a total of 95 cents since the start of July.
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 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.
A local motorist, a 23-year-old male, said that, although gas prices are still relatively high, the continuous roll back is still good news for the CNMI.
“Before the pandemic, I remember gas prices being much lower than this, especially after the summer season. However, after seeing fuel prices nearly reach $7, $5.61 a gallon is a steal,” he said.
Another motorist hopes that fuel prices will only continue to get lower, for the sake of the cost of utilities.
“CUC bills are getting ridiculous because of these fuel prices and my only hope is that the fuel prices continue to decrease so our power bills can go back to normal. That’s all I hope for,” she said.
