HOVENSA adjusts rates
Published: September 9, 2013
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ST. CROIX - Wholesale gasoline prices in the territory inched down today, although the price of diesel fuel edged up as HOVENSA adjusted its rack rates.
The changes lowered the rack rates - the price of fuel purchased wholesale at the HOVENSA truck-loading station on St. Croix - for regular gasoline by 7 cents per gallon and for premium gasoline by 2 cents per gallon. The wholesale price of diesel fuel rose by 2 cents per gallon.
Under today's adjustments, independent gas station operators in the territory now are paying $3.30 per gallon for regular gasoline, $3.64 per gallon for premium gasoline, and $3.64 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, the average retail price for regular gasoline in the United States on Thursday was $3.584 per gallon, according to the American Automobile Association's Daily Fuel Gauge Report.
The average retail price for premium gasoline in the United States on Thursday was $3.912 per gallon, and the average price of diesel fuel was $3.945 per gallon, according to AAA.