HOVENSA lowers wholesale prices of gasoline, diesel fuel
Published: December 23, 2013
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ST. CROIX - Wholesale prices for gasoline in the territory inched downward again today as HOVENSA adjusted its rack rates.
The changes lowered the rack rate - the price of fuel purchased wholesale at the HOVENSA truck-loading station on St. Croix - for regular and premium gasoline by 4 cents per gallon, and for diesel fuel by 3 cents per gallon.
After today's adjustments, independent gas station operators in the territory are paying $3.09 per gallon for regular gasoline, $3.56 per gallon for premium gasoline, and $3.42 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 stayed fairly constant over the past week.
Nationwide, the average retail price for regular gasoline on Thursday was $3.222 per gallon, down more than 2 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 $3.572 per gallon, down almost 3 cents from a week earlier, and the average retail price of diesel fuel nationwide on Thursday was $3.846 per gallon, fluctuating only slightly from the week before.