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Shell gas prices breach $3-a-gallon mark
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Posted on Aug 30 2005
The continued buoyancy of oil prices in the world market prompted Shell Marianas Inc. yesterday to increase its pump prices on Saipan by up to 6 cents a gallon—its third price hike this month and the 10th one this year.
All gallon prices have now surpassed the $3-mark.
Shell Marianas president Phil Stalker attributed the new round of price increases to the continuing rise in the global prices of oil.
“Oil products in Singapore have continued to increase and trade at record levels, which requires us to adjust our prices again to maintain alignment with our supply cost,” Stalker said.
All Shell gas stations on Saipan adjusted gallon prices by 6 cents for regular and premium gasoline and 4 cents for diesel. Prices are now as high as $3.339 per gallon.
Shell stations on Saipan now peg the new gallon price of regular at $3.179 and premium gasoline at $3.339, both at full-serve rate. Their self-serve rate now sells at $3.049 and $3.219 a gallon. The price of diesel increased to $3.289 a gallon at full-serve rate.
The other fuel company on the island, Mobil Oil Marianas, has not indicated if it intends to follow suit.
Shell had twice adjusted pump prices by up to 8 cents per gallon this month—the first on Aug. 9 and then on Aug.17—before increasing prices again yesterday. The new round of price increases becomes Shell’s 10th on Saipan this year.
For this year also, Shell had rolled back pump prices twice—in January and May. It has been increasing pump prices almost every month, except for the rollback in May. Last month, Shell hiked its prices twice—by up to 7 cents beginning July 7 and by 6 cents the following week.
