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Shell rolls back prices
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Posted on Dec 05 2005
Shell Marianas, Inc. yesterday disclosed it would reduce Saipan’s pump prices anew, this time by 6 cents per gallon beginning today.
The new price rollback becomes Shell’s third since October. Shell Marianas president Ruben Domingo said the move came about due to easing of supply costs, assuring the company’s patrons that it would pass on savings to them.
“Since our last price decrease, the market cost of supply has continued to reduce and we will pass these savings on to our customers,” Domingo said in a media statement.
Shell’s new rollback reduces gallon prices of diesel and regular and premium gasoline by 6 cents. Last Nov. 10, Shell also implemented price reductions by up to 10 cents per gallon, which made its lowest price—$2.989 per gallon for regular gasoline at self-serve rate—dip below the $3 per gallon mark since the company took on successive price hikes earlier this year.
The rate adjustment pegs the new gallon price of diesel, which is served on Saipan’s Shell stations at full-serve rate, at $3.149.
The new full-serve rates of premium and regular gasoline now drop to $3.219 and $3.059, respectively, while self-serve rates sell at $3.099 and $2.929.
Besides the new price reduction and two other recent rollbacks, Shell had rolled back pump prices only twice this year—in January and May. It has been increasing pump prices almost every month, except for implementing the rollback in May. The company made 12 upward adjustments of fuel prices this year before implementing the recent rollbacks.
Mobil has made no media statement yet if it would implement a similar move. Mobil has also implemented price rollbacks in the past months after the successive price increases.
