Downward trend in fuel prices continues

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The CNMI continues to see a downward trend in fuel prices, with local oil companies dropping their prices another 10 cents.

In over a week, the CNMI saw another rollback in oil prices after weeks of continuous increases.

Mobil Oil Marianas took the lead yesterday in the reduction of gas prices, with its Extra fuel dropping from $ 5.06 a gallon to $4.96. Mobil also dropped its Supreme fuel from $5.51 to $5.41 while its diesel rolled back from $5.33 a gallon to $5.23.

Shell Marianas has yet to reduce its prices as of 6:30pm press time but both oil companies typically mirror each other’s price changes, so Shell is expected to impose the same reduction today.

A 46-year-old man who was filling up his tank yesterday afternoon said he can finally fill up his tank below $50. However, he was still unhappy about it because of the recent COVID-19 outbreak in the CNMI.

“I feel like jobs will start to close again soon. We’re already seeing construction companies close due to this recent outbreak. We might have to stay home again like last year and we won’t really need to fill up gas as much,” he said.

The passenger of the man, a 36-year-old woman, said it might not matter because the trend won’t last.

“I think they’re just giving us a little relief before they hike it back up maybe another 15 cents. We’ve all seen this before. Now COVID-19 is infecting so many people, we might be asked to home quarantine again or our jobs might ask us to work remotely. Everything is so uncertain. But all we can do is gas up as much as we can while the gas is still relatively low,” she said.

The Commonwealth Utilities Corp. has yet to announce whether they, too, will lower the Fuel Adjustment Charge due to the decrease in fuel prices. As of Nov. 1, the FAC went up from $0.19355 per kWh to $0.23296 per kWh.

Kimberly B. Esmores | Reporter
Kimberly Albiso Bautista has covered a wide range of news beats, including the community, housing, crime, and more. She now covers sports for the Saipan Tribune. Contact her at kimberly_bautista@saipantribune.com.
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