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Shell rolls back gas prices anew
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Posted on Nov 09 2005
Two weeks after Mobil and Shell rolled back Saipan’s fuel prices, motorists may now gas up at cheaper rates at Shell stations, after the oil company decreased pump prices anew by up to 10 cents a gallon today.
“Since our last price rollback, the cost of supply has reduced further and we will pass the savings to our customers,” said Shell Marianas, Inc. president Ruben Domingo in a media statement yesterday.
Both Mobil and Shell said they implemented the previous rollback due to softening of product costs in Singapore.
The rollback, Shell’s second since October, puts its lowest gallon price at $2.989, the first time that gas prices dropped below the $3-mark in recent months. Its other prices remain slightly above $3 per gallon.
Domingo said the rollback, which would be effective at the close of yesterday’s business, would reduce the price of diesel by 10 cents a gallon. The rate adjustment pegs the new gallon price of diesel at $3.209.
Domingo said the price of Shell’s premium and regular gasoline would drop by 6 cents a gallon. The new full-serve rates of those products are now at $3.279 and $3.119, respectively, while self-serve rates sell at $3.159 and $2.989.
Besides the two 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 the rollback in May. The company made 12 upward adjustments of fuel prices this year before implementing the two recent rollbacks.
Mobil has made no announcement yet about any price rollback. It decreased pump prices by up to 10 cents a gallon on Oct. 26. Since that time, Mobil’s gallon prices for unleaded and super gasoline have been retailing on Saipan at $3.239 and $3.399 at full-serve rate, and $3.069 and $3.239 at self-serve rates. Mobil gas stations retail diesel at $3.309 and $3.259 per gallon at full- and self-serve rates, respectively.
