HOVENSA cuts price of regular, premium gas
Published: August 12, 2013
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ST. CROIX - Wholesale gasoline prices in the territory edged downward today for the third week in a row, 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 5 cents per gallon and for premium gasoline by 12 cents per gallon. Wholesale diesel fuel prices did not change.
Under today's adjustments, independent gas station operators in the territory now are paying $3.34 per gallon for regular gasoline, $3.64 per gallon for premium gasoline, and $3.52 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 as 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 gasoline prices in the United States on Thursday were also lower than a week ago, according to the American Automobile Association's Daily Fuel Gauge Report.
The average retail gasoline price in the United States on Thursday was $3.577 per gallon for regular, $3.913 per gallon for premium, and $3.881 per gallon for diesel fuel, according to AAA.