HOVENSA adds 4¢ to price of regular, premium
Published: June 30, 2014
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ST. CROIX - The wholesale price of gasoline in the territory increased today as HOVENSA adjusted its rack rates.
The change will raise the rack rate - the price of fuel purchased wholesale at the HOVENSA truck-loading station on St. Croix - for regular and premium gasoline by 4 cents per gallon and for diesel fuel by 5 cents per gallon.
Under today's adjustments, independent gas station operators in the territory now are paying $3.63 per gallon for regular gasoline, $3.84 per gallon for premium gasoline, and $3.50 per gallon for diesel fuel when they buy their fuel wholesale at HOVENSA. Those prices include the 14-cents-per-gallon tax that HOVENSA 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 been fairly steady over the past week, with the average price per gallon up less than a cent from the previous week for the different grades of fuel, according to the American Automobile Association's Daily Fuel Gauge report.
Nationwide on Thursday, the average retail price for regular gasoline was $3.684 per gallon, the average retail price for premium gas was $4.036 per gallon, and the average retail price for diesel fuel was $3.905 per gallon, according to AAA.