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Charlotte Amalie
Friday, December 9, 2022
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Gas Prices Keep Shooting Up

The wholesale price of premium grade gas from Hovensa’s rack rate increased for the week of Sept. 1, with regular rising 17 cents per gallon to $3.51 per gallon and premium increasing 10 cents per gallon to $3.80 per gallon, marking two months of steady increases.

Prices do not include the territory’s fuel tax, which was recently doubled to 14 cents per gallon, with a portion set aside for new generating equipment for the V.I. Water and Power Authority. Fuel excise taxes were eliminated at the same time, for a net reduction in the cost of fuel arriving in the territory.

Hovensa’s rack rate remains below the all-time high price of $3.68 per gallon of regular and $3.97 for premium, set the week of April 9-15, even with the increased tax.

Meanwhile, according to the Division of Licensing and Consumer Affairs, the current lowest price at the pump for regular on St. Croix is $3.95 per gallon and $4.14 per gallon for premium.

St. Thomas’ lowest price currently is $4.45 for regular and $4.75 for premium. On St. John the price is $4.65 for regular and $4.75 for premium.

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