HOVENSA raises price of regular gas by 10¢ a gallon for third straight week
Published: March 11, 2013
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The wholesale price of regular gasoline at HOVENSA rose for the third straight week, marking a 30-cent increase since Feb. 25.
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 gasoline and 8 cents for premium.
The rack rate for diesel fuel remained the same.
Under today's adjustments, independent gas station operators in the territory now are paying $3.58 per gallon for regular gasoline, $4.01 per gallon for premium gasoline and $3.68 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 third week in a row that the rates for regular and premium have increased by approximately 10 cents per gallon.
On the retail side, average gasoline prices nationwide have been climbing for several weeks, although they seem to have dropped slightly during the last week, according to the American Automobile Association's Daily Fuel Gauge Report.
Average retail prices for gasoline in the United States on Thursday were $3.719 per gallon for regular, $4.035 per gallon for premium and $4.106 per gallon for diesel fuel, according to AAA.