81.7 F
Charlotte Amalie
Friday, December 9, 2022
HomeNewsArchivesGas Prices Keep Shooting Up

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.

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.