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First gas price hike this year
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Posted on May 12 2020
The CNMI saw its first gas price hike of the year last week, with gas prices increasing by 15 cents.
Despite speculation that gas prices would hit an all-time low due to the COVID-19 pandemic, the CNMI saw its first hike last Thursday, the first hike of 2020 and the first increase since the economic downturn as a result of COVID-19.
Mobil Oil Mariana Islands, Inc. was the first to raise its gas prices Thursday morning, over a week since they reduced gas prices by 10 cents.
Mobil’s gas prices went from $3.08 for a gallon of Extra fuel to $3.23 per gallon, while their Supreme fuel went from $3.53 per gallon to $3.71.
Shell Marianas followed suit, raising their fuel prices the following morning, Friday.
A motorist fills her car with fuel at a Mobil Oil gas station. (KRIZEL TUAZON)
A motorist who requested to be referred to only as “Dan” said that it must mean that the economy is recovering. “Gas prices are going back up because the economy is too, or so I would like to believe. This means people are driving again so normally they’d have to raise prices,” he said.
Dan added that he doesn’t know if he should be happy that the economy is getting better, or that he would have to soon start paying $4 for a gallon of fuel.
“I mean this wasn’t going to last forever. All I can say is, I should’ve taken advantage of the low gas prices while I had the chance,” he said.
According to various social media outlets, fuel prices have stopped falling and are beginning to increase, creeping back up to the average price of fuel before the COVID-19 pandemic, as parts of the country slowly reopen from shutdowns.
