FSM Petroleum Corporation to announce unleaded fuel price cut

By Bill Jaynes
The Kaselehlie Press
September 1, 2016
Pohnpei, FSM—Vital, the FSM Petroleum Corporation is expected to announce an FSM wide reduction in the price it charges gas stations for unleaded gasoline tomorrow.
A Vital spokesperson said that the price they will charge to gas station vendors will decrease by 15 cents.
“We are once again strongly urging all of our retail clients (gas stations) to pass along 100% of the reduction to consumers immediately,” the spokesperson said.
To facilitate that “immediate” reduction, Vital has said that the price reduction will be applied to orders that have been placed before the price reduction they intend to announce tomorrow but that have not yet been delivered.
Not all gas station owners decide to pass the savings on their fuel purchases on to their customers. In Pohnpei there is at least a 10 cent per gallon disparity in prices for unleaded gasoline. Here, at least one station is currently charging $3.90 per gallon while others are still charging $4 per gallon after Vital’s previous price reduction.
The Vital spokesperson said that a potential price reduction for diesel fuel will be reviewed next week.