Previous Story
2 DAYS AFTER HIKE, 20-CENT INCREASE
‘This was shocking even for us’
|
Posted on Mar 07 2022
The CNMI saw another increase in fuel prices over the weekend, just a little over two days after local oil companies raised their prices, bumping regular gas prices another notch closer to the $6 mark.
Last Friday afternoon, Mobil Oil Marianas increased its fuel prices by 20 cents, followed by Shell Marianas, which raised its prices early Saturday morning.
This comes after the two oil companies raised their gas prices just a couple of days ago, with Mobil first raising its prices by 10 cents, mirrored soon after by Shell.
With this latest increase, Mobil’s Extra fuel went up from $ 5.56 a gallon to $5.76. Mobil also hiked its Supreme fuel from $6.01 to $6.21 a gallon. The local oil company also increase its diesel prices from $5.93 to $6.13 per gallon.
According to a gas attendant, in his years working for Mobil, he has never seen fuel prices rise so fast.
“This was shocking even for us. Usually you see prices increase like after weeks or months but in just two days? That was so unusual,” he said.
He believes this trend will continue. “I believe this is only going to continue, given what’s going on internationally. We just have to prepare to see prices possibly go past the $6 mark,” he said.
Last Friday, a 57-year-old motorist could not contain his dismay after seeing prices go up again.
“This is absurd. Pretty soon a gallon of gas is going to cost an hour of your life if you work minimum wage. How is that? Our economy is barely recovered from COVID-19, how will most people pay for gas and power if prices continue to rise this fast?” he asked.
According to international media outlets, fuel wholesale prices have risen worldwide following the conflict between Ukraine and Russia.
Russia is considered to be the largest natural gas exporter in the world with the country shipping approximately 196 billion cubic meters of gas per year.
