HOVENSA increases its rack rates for premium gas by 18 cents
Published: January 7, 2013
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ST. CROIX - The wholesale price of gasoline at HOVENSA is increasing today.
After significantly slashing wholesale prices Dec. 17, then leaving the prices unchanged for three weeks, HOVENSA today raised its rack rates - the price of fuel purchased wholesale at its truck-loading station on St. Croix - by 5 cents per gallon for regular gasoline and by 18 cents per gallon for premium. The wholesale price of diesel fuel did not change.
Under today's adjustments, independent gas station operators in the territory now are paying $3.23 per gallon for regular gasoline and $3.68 per gallon for premium gasoline and 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 on Thursday were $3.295 per gallon for regular, $3.602 per gallon for premium and $3.914 per gallon for diesel fuel, according to the American Automobile Association's Daily Fuel Gauge Report.
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