FSM PetroCorp Reduces Gasoline Prices

FSM PetroCorp Reduces Gasoline Prices

POHNPEI, FSM – The FSM Petroleum Corporation (FSMPC) has reduced unleaded gasoline prices by a further $0.15 cpg across the FSM, effective Friday, September 2, 2016.

POHNPEI, FSM – The FSM Petroleum Corporation (FSMPC) has reduced unleaded gasoline prices by a further $0.15 cpg across the FSM, effective Friday, September 2, 2016. This is a total reduction of $1.56 since international oil prices began to fall in 2013, consistent with the company’s medium term pricing policy to buffer against volatility in international markets.

Since the company’s inception in 2008, the State Owned Entity has maintained its viability as it continues to reduce energy prices throughout the nation, while expanding its sphere of operations and services, employing more people and being a major contributor to the national GDP.

The FSMPC Board and Management have expressed thanks to policy makers and particularly the people for their patience and their continued support of the company. “We’ve just launched a new 10-year strategy that calls for us to work harder on initiatives that improve our efficiencies and services and enhance our cost reduction programs,” stated Chairman of the Board, Mr. Faustino Yangmog of Yap State.

We know we can do better and have more to do in terms of continuing to keep energy prices as low as possible and so we are striving to do our best on that end,

Yangmog said, promising possible price reductions in the near future.

Added Yangmog, “We urge all of our authorized reseller network in the FSM to pass along 100% of the savings as soon as reasonably practical so that families and businesses can realise these savings in their pocket books and bottom lines as well.”