Continued downward trend in fuel prices seen

Saipan has seen its first rollback in fuel prices for the month of June.

Mobil Oil Mariana Islands Inc. lowered their gas prices last Tuesday, while Shell Marianas reduced their gas prices last Wednesday by 10 cents.

Regular gasoline is now at $5.369 a gallon from $5.469 a gallon; supreme gas is $5.819 a gallon from $5.919 a gallon; and diesel is now at $5.639 a gallon from $5.739 a gallon.

The last rollback was on May 15, before another rollback earlier that same month.

This, right before the Commonwealth Utilities Corp. released a statement last May 30 that said Mobil Oil Mariana Islands, Inc. notified them of a decrease in the average international fuel oil prices which may affect the Fuel Adjustment Charge.

As a result, the current FAC rate will decrease by 2.23 cents per kWh, from $0.26469 to $0.24173 per kWh, effective June 1, 2024.

With that, CNMI residents will now also see a slight decrease in their electric bill.

Local motorists share their relief of another rollback in fuel and electricity amidst the increase in other daily living expenses.

A 61-year-old who’s lived in the CNMI for over 30 years said that she welcomes any decrease in gas prices. She said with the state of the economy right now, she saves every penny that she can save.

“It’s good that it’s going down, and hopefully it goes down again,” she said about the decrease in gas prices. “I usually spend between $80-$100 on gas about every two weeks, so I can now save a few dollars with the decrease. I also spend about over $300 a month on electricity, so it’s good that the rate has decreased too. Hopefully, the downward trend on more expenses will be seen.”