GAS PRICES NEAR $3 ON SAIPAN

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SAIPAN, CNMI (Saipan Tribune, June 22) – Gasoline prices at Saipan's Shell gas stations have neared the $3 per gallon mark, after Shell Marianas implemented an increase of 5 cents a gallon effective last midnight.

Shell stations now peg new gallon prices of regular and premium gasoline at $2.869 and $2.989, respectively, at full-serve rate. Their self-serve rate now sells at $2.739 and $2.869 per gallon. The price of diesel increased to $3.009 per gallon at full-serve rate.

Shell decided to increase prices after rolling them back twice by 10 cents and 5 cents in April and May, respectively.

Shell Marianas Inc. president Phil Stalker said in a news release that the new price hike was due to high cost of refined product in Singapore.

"The pricing of crude, gasoline and diesel in Singapore, where Shell sources product, continues to trade at record levels. We have increased our retail price of regular and premium unleaded gasoline and diesel to keep up with changes in our supply costs," Stalker said.

June 22, 2005

Saipan Tribune http://www.saipantribune.com

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