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Shell drops fuel prices
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Posted on Aug 07 2008
For the second time in less than two weeks, gas prices have dropped at service stations as the global cost of crude oil fell yet again this week after reaching record highs earlier this summer.
In a statement, Eloy Lizama, president of Shell Marianas, disclosed that prices on all Shell gasoline brands lowered by 20 cents as of 2 pm Thursday.
“Since our last price movement on July 31 the market cost of Shell’s fuel products has significantly reduced,” Lizama said. “Shell wishes to immediately pass these savings on to our customers.”
Some Mobil stations have also seen a corresponding price drop.
The price decline follows a decrease in crude oil prices, which fell 59 cents Wednesday to $118.58 dollars per barrel according to the New York Mercantile Exchange. Oil futures also dipped the same day to $117.11 per barrel, their lowest price since May and a 20 percent decline from the $147.27 per barrel record high reached last month.
Shell’s recent price changes on Saipan bring the cost of regular gasoline to $4.68 per gallon for self-service and $4.81 for full service. Shell’s self service price for its V-power brand gasoline fell to $4.85 per gallon, while full service is $4.97. Diesel prices also dropped to $5.60 per gallon.
Meanwhile, the CNMI’s gas prices are still far higher than those seen in the continental United States, where the national average price of unleaded gasoline now stands at $3.86 per gallon, according to AAA, down 9 cents from earlier this week. The national average price for unleaded gasoline on the same day one year ago, AAA notes, was $2.83.
[B]SHELL PRICES[/B] [B]REGULAR [/B] Self Service $4.68Full Service $4.81 [B]PREMIUM[/B] Self Service $4.85
Full Service $4.97
Diesel $5.60
