HOVENSA adds 4 cents to price of regular gas
Published: December 3, 2013
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ST. CROIX - Wholesale prices for regular and premium gasoline in the territory rose again today as HOVENSA adjusted its rack rates.
The changes increased the rack rate - the price of fuel purchased wholesale at the HOVENSA truck-loading station on St. Croix - for regular gasoline by 4 cents per gallon, for premium gasoline by 5 cents per gallon and for diesel fuel by 2 cents per gallon.
Under today's adjustment, independent gas station operators in the territory now are paying $3.14 per gallon for regular gasoline; $3.62 per gallon for premium gasoline; and $3.46 per gallon for diesel fuel when they buy their fuel wholesale at HOVENSA. Those prices include the 14-cents-per-gallon tax that the refinery collects for the government.
The rack rates influence retail gasoline prices in the territory because independent gas station operators can buy their gasoline at the loading station, then resell it to their customers. The new rates are effective through Sunday.
On the retail side, average retail prices for gasoline in the United States have slipped slightly downward over the past week, although prices for diesel fuel edged slightly upward.
Nationwide, the average retail price for regular gasoline on Sunday was $3.268 per gallon, up a little more than 1 cent from a week earlier, according to the American Automobile Association's Daily Fuel Gauge Report. The average retail price for premium gas in the United States on Sunday was $3.612 per gallon, which down a little more than 1 cent from a week earlier, according to AAA. The average retail price of diesel fuel nationwide on Thursday was $3.846 per gallon, which was up almost 2 cents from the previous week.