HOVENSA ups prices for all grades of gas
Published: February 3, 2014
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ST. CROIX - The wholesale price for gasoline in the territory will inch upward today as HOVENSA adjusts its rack rates.
The changes will raise the rack rate - the price of fuel purchased wholesale at the HOVENSA truck-loading station on St. Croix - for regular and premium grades by 2 cents per gallon and for diesel fuel by 4 cents per gallon.
Under today's adjustments, independent gas station operators in the territory now are paying $3.27 per gallon for regular gasoline, $3.56 per gallon for premium gasoline, and $3.44 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 inched down slightly over the last week, while diesel fuel went up.
Nationwide, the average retail price for regular gasoline on Thursday was $3.278, down 1 cent from a week earlier, according to the Amercian Automobile Association's Daily Fuel Gauge Report.
The average retail price for premium gas in the United States on Thursday was $3.624 per gallon, down a little more than a cent from a week earlier, according to AAA. The average retail price of diesel fuel nationwide on Thursday was $3.895 per gallon, more than 3 cents higher than a week earlier.