The wholesale price from the Hovensa rack of regular grade gasoline in the territory will continue to drop next week. Hovensa announced Friday it will reduce the price of regular gas by two cents, to $2.90 per gallon from $2.92, and reduce premium gas by nine cents, from $3.20 per gallon to $3.11 per gallon, effective Monday.
Those prices do not include the territorial fuel tax of 14 cents a gallon, which brings the real wholesale price to retailers to $3.04 per gallon for regular and $3.25 for premium.
The decrease follows last week’s 24 cent reduction in the price of regular and 30 cent reduction for premium. Prices dropped seven cents for regular and two cents for premium the week before that. Prior to that there was a slight uptick in price.
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, 2012.
