Previous Story
First fuel price rollback of 2022
|
Posted on Mar 16 2022
A motorist takes advantage of the lower gas prices by filling up yesterday. (Kimberly B. Esmores)
After weeks of gradual increases that saw gas prices on Saipan creeping past the $6 mark, the CNMI saw its first fuel price rollback of the year yesterday, with local oil companies reducing prices by 20 cents.
After just a few days since hitting the $6 mark—the highest that Saipan has seen in years—Mobil Oil Marianas surprised many in the community with its first rollback.
As of 6pm press time, Shell Marianas had yet to reduce its prices but is expected to reduce its prices today.
Yesterday, Mobil’s Extra fuel went down from $6.06 a gallon to $5.86. Mobil also reduced its Supreme fuel from $6.51 to $6.31 a gallon. The local oil company also brought down its diesel prices from $6.53 to $6.33 per gallon.
One local motorist encouraged everyone to gas up while prices are relatively low since the nation is still expecting a significant increase in fuel prices.
“This is probably only a minor relief. President Joe Biden already announced last week that gas prices will only continue to go up, now that the import of Russian oil has been banned,” he said.
Another motorist, a 37-year-old woman, said this may be the start of something good.
“I think this will be the start of a steady rollback in prices. I’m hopeful that this is good news for the CNMI and the nation,” she said.
Last week, President Joe Biden announced the ban on import of Russian oil as part of the sanctions imposed for the country’s invasion of Ukraine weeks ago.
He also openly warned that fuel prices will only continue to increase due to this sanction.
