HOVENSA reduces regular gas by 18¢
Published: March 18, 2013
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ST. CROIX - Motorists may start to see some relief in prices at the pumps soon, as HOVENSA today makes significant reductions in its wholesale prices for regular and premium gasoline this week.
HOVENSA today slashed its rack rates - the price of fuel purchased wholesale at its truck-loading station on St. Croix - by 18 cents per gallon for regular gasoline and 27 cents for premium gasoline. The wholesale price of diesel fuel did not change.
Under today's adjustments, independent gas station operators in the territory now are paying $3.40 per gallon for regular gasoline, $3.74 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.
On the retail side, average gas prices nationwide on Thursday were $3.695 for regular, $4.014 for premium and $4.072 for diesel fuel.