HOVENSA lowers prices of wholesale diesel fuel and regular gasoline
Published: October 7, 2013
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ST. CROIX - Wholesale regular gasoline and diesel fuel prices in the territory continue to inch downward, after HOVENSA today adjusted its rack rates.
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 2 cents per gallon and for diesel fuel by 1 cent per gallon. The wholesale price of premium gasoline did not change.
Under today's adjustments, independent gas station operators in the territory now are paying $2.93 per gallon for regular gasoline, $3.18 per gallon for premium gasoline, and $3.44 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 regular gasoline on Thursday was $3.366 per gallon, down almost 6 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 Thursday was $3.721 per gallon, down more than 5 cents from a week earlier, according to AAA. The average retail price of diesel fuel nationwide on Thursday was $3.89 per gallon, down 2 cents from a week earlier.