HOVENSA nips 1 cent from price of regular, 4 cents from price of premium
Published: June 9, 2014
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ST. CROIX - The wholesale price of gasoline edged downward today as HOVENSA adjusted its rack rates.
The change will lower the rack rate - the price of fuel purchased wholesale at the HOVENSA truck-loading station on St. Croix - for regular gasoline by 1 cent per gallon and for premium gasoline by 4 cents per gallon. The price of diesel fuel did not change.
Under today's adjustments, independent gas station operators in the territory now are paying $3.47 per gallon for regular gasoline, $3.68 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 HOVENSA 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 remained fairly steady for the past week, varying by less than a cent on Thursday from the average rate a week before, although the price of diesel fuel fell about 1 cent over the week, according to the American Automobile Association's Daily Fuel Gauge Report.
Nationwide, the average retail price for regular gasoline on Thursday was $3.658 per gallon, the average retail price for premium gas in the United States on Thursday was $4.015 per gallon, and the average retail price of diesel fuel nationwide on Thursday was $3.91 per gallon, according to AAA.