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Shell hikes fuel prices by 6 cents
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Posted on Mar 22 2006
Beginning today, motorists will have to cough up 6 more cents at the pump for every gallon of unleaded and premium gasoline that they buy at Shell stations on Saipan.
Shell Marianas Inc. announced yesterday the gas price hike—its second for the year—which pushes all gallon prices at Shell retail stations to over $3. Shell had first increased pump prices by 6 cents a gallon on Jan. 25.
Shell Marianas president Ruben Domingo said that increasing supply costs prompted the new fuel price hike.
“Our cost of supply from Singapore, where Shell sources our products, has increased, requiring today’s movement,” Domingo said in a news statement.
Shell stations now retail regular gasoline at $3.049 a gallon at self-serve rate. This used to sell at $2.989, then the only rate below $3 per gallon.
At full-serve rate, the product costs $3.179 a gallon.
Premium gasoline retails at $3.339 and $3.219 a gallon at full- and self-serve rates. Shell’s diesel remains at $3.209 per gallon.
During the last quarter of 2005, Shell implemented three price rollbacks. However, Shell increased pump rates by at least 12 times in 2005 for a cumulative gallon price adjustment of up to 67 cents.
The price hikes last year—and the rollbacks—resulted in a net gallon price increase of 43 cents for premium gas, 37 cents for regular gas, and 40 cents for diesel.
