HOVENSA raises wholesale prices of gasoline, diesel fuel
Published: December 30, 2013
Font size: [A] [A] [A]
ST. CROIX - Wholesale prices for gasoline in the territory shot up today as HOVENSA adjusted its rack rates.
The changes increased the rack rate - the price of fuel purchased wholesale at the HOVENSA truck-loading station on St. Croix - for regular and premium gasoline by 14 cents per gallon, and for diesel fuel by 6 cents per gallon.
Under today's adjustments, independent gas station operators in the territory now are paying $3.23 per gallon for regular gasoline, $3.70 per gallon for premium gasoline, and $3.48 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 also jumped during the past week.
Nationwide, the average retail price for regular gasoline on Thursday was $3.283 per gallon, up more than 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 $3.63 per gallon, up more than 5 cents from a week earlier. The average retail price of diesel fuel nationwide on Thursday was $3.855 per gallon, up about one cent from the previous week, according to AAA.