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Shell hikes prices anew by 7 cents
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Posted on Mar 14 2005
Motorists gassing up at Shell stations will have to pay an additional 7 cents for every gallon starting today, as the oil company implemented its second round of price hike in a span of three weeks and its third for the year.
Shell Marianas Inc. president Phil Stalker announced the price increase yesterday, saying, “Crude prices have jumper 22 percent this year driven by demand in a strong U.S. economy and associated demand in the economies that trade with the U.S.—notably China in this region. For this reason, we have to increase [the] price of regular and premium unleaded gasoline and diesel.”
Shell gasoline products affected by the 7-cent price increase for every gallon include regular, premium, and diesel. The price adjustment effectively bumps up the price of regular gasoline from $2.2629 to $2.2699 per gallon. Premium gasoline would go up from $2.76 to $2.83 a gallon. Diesel would go from $2.80 to $2.87.
“We understand the impact that these moves have on our community and we are working hard on new ways to provide increased value to Shell customers.”
Shell likewise raised pump prices last Feb. 23, when it raised the cost by also 7 cents for every gallon to up to $2.879 per gallon.
The latest round of price increase took effect at the stroke of midnight Monday.
