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Mobil lowers pump prices
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Posted on Nov 13 2005
Mobil gas stations on Saipan lowered pump prices by up to 10 cents per gallon late last week following a similar move implemented by Shell, the company’s sole competitor in the CNMI gas retailing industry.
Mobil released no official media statement on the rollback, but its gas retailers on island noticeably displayed reduced prices at the pumps.
Both Mobil and Shell have rolled back fuel prices twice since late last month. In the first rollback, it said the move resulted from the softening of product cost in Singapore, where the company sources out the islands’ fuel.
In the second rollback, Mobil evidently reduced the gallon prices of gasoline and diesel by 8 cents and 10 cents, respectively. Like Shell, Mobil’s lowest gas price sells at $2.989 per gallon, dipping below $3 per gallon for the first time in recent months.
At full-serve gallon rate, Mobil stations now retail unleaded and super unleaded gasoline at $3.159 and $3.319, respectively; self-serve rate pegs gallon prices at $2.989 and $3.159. Full- and self-serve rates for diesel settle at $3.209 and $3.159.
Mobil decreased pump prices by up to 10 cents per gallon beginning Oct. 26, before taking on last week’s price rollback.
Mobil has rarely issued announcement of price increases, but its prices have been comparable to those of Shell, which has been increasing gas prices almost every month, except in May, when it rolled back prices. Shell had also reduced pump prices last January.
Shell made 12 upward adjustments of fuel prices this year before implementing the two recent rollbacks in late October and last week.
Shell’s rate adjustment last week pegged the new gallon price of diesel, which is served on Saipan’s Shell stations at full-serve rate, at $3.209.
Shell’s premium and regular gasoline, which dropped by 6 cents a gallon, now sell at $3.279 and $3.119 at full-serve rate, while self-serve prices dropped to $3.159 and $2.989, respectively.
