10 Mar 2006

Agreement signed in Micronesia to lower fuel costs

10:06 am on 10 March 2006

The Marshalls Energy Company and the Micronesia Petroleum Corporation has signed a joint agreement for cheaper fuel prices in the region.

The Minister of Public Works in the Marshall Islands, Matt Zackhras, says they can now buy bulk fuel from any supplier in the region.

The deal allows both companies to collaborate in sourcing out competitive fuel prices and piggy-back on fuel shipping costs to the two countries.

Micronesia says the agreement will have a long-lasting impact on both countries.