Downward trend in gas prices continues

The CNMI continues to see a downward trend in gas prices with another 10-cent decrease implemented yesterday.

Late yesterday afternoon, Mobil Oil Marianas took the lead in implementing the most recent 10-cent reduction in gas prices. Shell Marianas is expected to follow suit today.

With the most recent reduction, Mobil now charges $5.36 per gallon of its Extra fuel from $5.46. Mobil also reduced its Supreme fuel from $5.91 per gallon to $5.81 while diesel went down from $6.08 per gallon to $5.98.

Since the end of September, fuel prices have only continued to drop.

Over two weeks ago, oil companies dropped their prices from $5.56 per gallon of regular fuel to $5.46.

Less than a week prior, oil companies dropped fuel prices from $5.66 per gallon to $5.56.

Prior to that, late in September oil companies dropped regular fuel prices from $5.76 per gallon to $5.66.

The down trend in fuel prices came after a string of increases in the last few months.

The first increase was seen back on July 19, after more than two months of steady fuel prices, Mobil Oil Marianas broke the streak with a 15-cent increase.

With the increase, regular fuel went up from $5.11 per gallon to $5.26 per gallon.

Less than a week after, on July 25, Shell Marianas surprised the CNMI community when it took the lead in implementing a 10-cent increase that brought regular fuel prices up from $5.26 per gallon to $5.36.

Again, less than a week after, on Aug. 2, gas went up 15 cents. With the previous increase, fuel went up from $5.36 per gallon to $5.51.

Following the Aug. 2 increase, local oil companies raised their prices again in a little over two weeks by 5 cents with fuel increasing from $5.51 per gallon to $5.56.

After over a week, local oil companies raised its prices again by 10 cents, with gas prices rising from $5.56 per gallon to $5.66.

Soon after, local oil companies raised their prices again by 10 cents, bringing regular fuel up from $5.66 to $5.76 per gallon.