The latest rack rate price change reported to the DLCA by Hovensa concerning the latest notice of motor fuels price changes reports that a significant decrease continues to be effective, according to a press release issued Monday by the V.I. Department of Licensing and Consumer Affairs (DLCA). Effective Dec. 24-30, the rack will remain unchanged following last week’s major price decrease. Hovensa’s current rack rate reflects the decrease of .25 cents per gallon on regular fuel and .23 cents per gallon on premium fuel, which was implemented last week Monday, Dec. 17.
“DLCA will continue to publicly implore retailers who purchase fuel from Hovensa to pass on the wholesale savings that they experience to consumers at the gas pumps,” said Commissioner Biggs.
The department remains steadfast in its commitment to bring about real and meaningful assistance to the people of the Virgin Islands. It is important for consumers to purchase wisely so that they may maximize their purchasing power and ensure that they receive the best value for their money. The department will continue to monitor retail fuel prices and conduct its weekly gas survey.
