After holding steady for several weeks, Hovensa is increasing its rack price for gasoline, with regular climbing five cents from $3.09 to $3.14 per gallon and premium five cents as well, from $3.54 to $3.59 per gallon. Those prices do not include 14 cents per gallon territorial fuel tax, which brings the real wholesale price to retailers to $3.28 per gallon for regular and $3.73 per gallon for premium.
When Hovensa increased prices the second week of January by five cents per gallon for regular and 18 cents for premium, it marked the first price increase in months. Before that, the last change in price occurred Dec. 23, when regular declined 25 cents per gallon and premium declined by 23 cents per gallon.
Prices declined by five cents per gallon for both grades of gasoline on Nov. 12. Before that, prices stayed relatively steady throughout the fall.
The all-time high for Hovensa’s rack rate, $3.68 per gallon of regular and $3.97 for premium, was set the week of April 9-15.
