HOVENSA raises price of gas 10¢
Published: February 25, 2013
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ST. CROIX - The wholesale price of gasoline at HOVENSA is on the upswing.
HOVENSA today raised its rack rates - the price of fuel purchased wholesale at its truck-loading station on St. Croix - by 10 cents per gallon for regular and premium gasoline, and by 1 cent per gallon for diesel fuel.
Under today's adjustments, independent gas station operators in the territory now are paying $3.38 per gallon for regular gasoline, $3.83 per gallon for premium gasoline, and $3.69 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. HOVENSA considers adjusting the rate weekly.
This is the second time this month that rates have increased. On Feb. 11, rack rates went up by 5 cents per gallon for regular and premium gas, although diesel fuel did not change. Last week, rack rates stayed the same.
On the retail side, average gasoline prices nationwide are climbing.
Average U.S. prices at the pumps for regular and premium gasoline had jumped by almost 14 cents per gallon Thursday, compared to the price a week earlier, according to the American Automobile Association's Daily Fuel Gauge Report.
Average retail prices for gasoline in the United States on Thursday were $3.781 per gallon for regular, $4.081 per gallon for premium and $4.145 per gallon for diesel fuel, according to AAA.
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