HOVENSA again lowers price of wholesale fuel
Published: September 30, 2013
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Wholesale gasoline prices in the territory continue their downward trend, after HOVENSA today again lowered its rack rates across the board.
The changes cut the rack rates - the price of fuel purchased wholesale at the HOVENSA truck-loading station on St. Croix - for regular gasoline by 9 cents per gallon, for premium gasoline by 7 cents per gallon and for diesel fuel by 9 cents per gallon.
Under today's adjustments, independent gas station operators in the territory now are paying $2.95 per gallon for regular gasoline, $3.18 per gallon for premium gasoline and $3.45 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 continued to go down during the last week. Nationwide, the average retail price for gasoline on Sunday was $3.405 per gallon, down more than 7 cents 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 $3.760 per gallon, down more than 6 cents from a week earlier, according to AAA. The average retail price of diesel fuel nationwide on Sunday was $3.905, down more than 2 cents from a week earlier.