The Department of Licensing and Consumer Affairs (DLCA) reminds all fuel retailers throughout the territory that they are prohibited from increasing their prices at the pumps in anticipation of a wholesale increase. With any wholesale price increase, retailers must provide all required documentation to the department and receive approval before taking any action. Any increase in the price of gasoline, diesel, or marine fuel by any wholesaler or retailer operating in the territory without the prior written authorization of DLCA, shall be in violation and subject to administrative actions to include fines and possible revocation of the business license, according to a press release issued on Monday by the DLCA.

            Although wholesale prices may experience planned increases periodically, retailers are prohibited from increasing their prices without providing documentation to the Department as proof of purchase of the new fuel shipment. The latest rack rate price change reported by Hovensa, effective July 30 through Aug. 5, indicates an increase on regular fuel by .5 cents per gallon and an increase on premium fuel by .17 cents per gallon. Diesel fuel remains unchanged.

            With the volatile fuel market and economic challenges that residents are faced with, DLCA continues its information campaign designed to better assist, educate, and protect consumers.The following tips should be considered by consumers in an effort to conserve fuel:

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