Pictured Above: The pump prices of unleaded gasoline through Micronesia [Image Source: vitalenergy.fm]
PALIKIR, Pohnpei —The Vital Group, comprised of the Vital FSM Petroleum Corporation which operates in all four of the FSM states, on March 12th, discussed how a group of twelve farmers in Pohnpei have formalized their partnership as coconut suppliers under the Participant Guarantee System (PGS) model. The farmers have since sold over 9,000 pounds of husked coconut to the Coconut Industry Development Unit (CIDU) in Dekehtik, Pohnpei.
On March 14th, the Vital FSM Petroleum Corporation announced an upcoming price decrease of 10 cents per gallon in the wholesale price of gasoline, kerosene, and diesel. This is a follow-up to a previous10 cent price decrease in December last year. Mr. Faustino Yangmog, Chairman of the Board of Directors, said “We’re hopeful that motorists will be able to benefit from the upcoming price decrease.” (PR)