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Gas prices continue to drop
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Posted on Apr 07 2020
Gas prices continue to drop following the COVID-19 outbreak in the Marianas. (KIMBERLY BAUTISTA)
Reflecting the global decline in gas process, fuel prices in the CNMI saw its second rollback in a month and its fourth rollback of the year.
According to a source from Mobil Oil Mariana Islands, Inc., its fourth price rollback of the year happened last Wednesday at 7am, with prices dropping 20 cents. The last price rollback was on March 27.
Mobil reduced its prices from $3.639 per gallon of Extra fuel to $3.439, while their Supreme fuel went down from $4.089 to 3.889. Diesel also saw a 20-cent decrease from $4.119 to $3.919.
Shell gas stations followed suit last Thursday morning, also lowering their prices by 20 cents.
Back in March 27, the CNMI saw it largest rollback in gas prices of the year with Mobil and Shell lowering their prices by 30 cents.
Mobil lowered their prices first at around 10am. They reduced their prices from $3.939 per gallon of Extra fuel to $3.639 per gallon while their Supreme fuel prices dropped from $4.389 to $4.089. Diesel also went down 30 cents from $4.319 to $4.119.
According to a 54-year-old man, who agreed to be interviewed on the condition of anonymity, the price rollback is not only good news but is actually necessary during this pandemic.
“Gas prices in the United States is like less than $2 now due to this COVID-19. The last thing people need to worry about is paying for gas or buying food. We need to save our money to prepare for the worst,” he said.
In related news, due to the continuous drop in fuel prices, the Commonwealth Utilities Corp. has decreased its fuel adjustment charge. Effective last April 1, CUC’s FAC was decreased $0.11885 per kWh. As a result, individuals who normally use 500 kWh of power per month will pay approximately $23.75 less in their monthly billing.
Although the FAC rate has been decreased, CUC is still encouraging its consumers to practice energy conservation.
