86.7 F
Charlotte Amalie
Thursday, June 13, 2024
HomeNewsArchivesHovensa Increasing Rack Rate for Gas

Hovensa Increasing Rack Rate for Gas

Hovensa Friday announced a slight increase in the rack rate it charges dealers for gasoline.

Effective Jan. 30 through Feb. 5, the cost to dealers for a gallon of regular grade gasoline will increase three cents, from $3.01 to $3.04, the refinery said in a news release,

The cost for premium will increase two cents, to $3.31 a gallon during the same period.

Hovensa’s wholesale rate does not include local gasoline taxes of 7 cents per gallon or retailer markup.

St. Croix retailers typically charge 40 to 50 cents above the wholesale rate, while retailers on St. Thomas usually charge roughly 50 cents more than St. Croix retailers.

Print Friendly, PDF & Email
Keeping our community informed is our top priority.
If you have a news tip to share, please call or text us at 340-228-8784.

Support local + independent journalism in the U.S. Virgin Islands

Unlike many news organizations, we haven't put up a paywall – we want to keep our journalism as accessible as we can. Our independent journalism costs time, money and hard work to keep you informed, but we do it because we believe that it matters. We know that informed communities are empowered ones. If you appreciate our reporting and want to help make our future more secure, please consider donating.