MOBIL Oil Marianas at 4 pm on Tuesday reduced its gasoline prices by 15 cents and diesel by 20 cents.
Shell Marianas is expected to follow suit.
It’s the eighth fuel price roll-back since July.
The regular gas price went down to $5.26 a gallon from $5.41 a gallon; the premium gas price to $5.71 a gallon from $5.86 a gallon; and the diesel price to $6.48 a gallon from $6.68 a gallon.
Tinian Fuel Services and Calvo Enterprises on Rota said they will implement the price rollback today, Wednesday.
As of 4:30 pm, Tuesday, Tinian Fuel Services’ regular gas price was still $7,199 a gallon, and diesel was $8,599 a gallon.
On Rota, Calvo Enterprises’ regular gas price on Tuesday was still $6.89 a gallon while diesel cost $10.32 a gallon.
Rosemond Sword was one of those who bought gasoline for her car at Mobil’s Chalan Kiya service station about 20 minutes after the gasoline price went down.
She said, “It’s good for the people, good for the community because times are hard and we need the fuel industry to help us out.”
Tina Teng, an analyst at CMC Markets, told Reuters: “Oil prices have been sliding in a downtrend since mid-June, and recession fears and a slowdown in growth in China are still the major bearish factors in general.”
Oilprice.com, for its part, reported that oil prices reflect “fears of an economic slowdown in China, a recession in Europe’s major economies, and a slowdown or recession in the United States.”
.