The Department of Licensing and Consumer Affairs (DLCA) is notifying the public that the rack rate issued by Limetree Bay effective March 23-29 is lower for regular and premium by 35.96 percent and 39.22 percent respectively from the prior week’s rate. The new price for regular and premium with the .14/gallon tax is $1.03 and $1.16 respectively. The rack rate for diesel is 18.11 percent lower from the prior week’s rate. The new price for diesel with the .14/gallon tax is $1.41/gallon. Currently, the rack rate quoted is available in the St. Croix district only. As soon as the rack rate for St. Thomas-St. John is available, DLCA shall disseminate the information.
DLCA conducted its territorywide monthly fuel survey on Wednesday, March 18, and commends the great number of retailers in the St. Croix District that voluntarily reduced the price of fuel at its pump on Tuesday, March 17. Unfortunately, despite the drop in the rack rates, there are still some retailers on St. Croix that have not reduced its price as is the case for all of the retailers in the St. Thomas-St. John District. Surveys are included for comparative viewing.
On St. Croix, the lowest price for self-service regular fuel was found $2.329 per gallon and the lowest price for self-service premium fuel was $2.959 per gallon.
On St. Thomas, the lowest prices for self-service regular fuel was $3.459 per gallon for regular and $3.689 per gallon for premium. The lowest price for diesel fuel was $3.599 per gallon.
On St. John the lowest self-service prices were $3.79 premium and $3.69 regular. The lowest price for diesel was $4.15.
On or about the second week of February 2020, DLCA issued letters to every wholesaler and retailer of fuel in the United States Virgin Islands requesting certain information pursuant to Virgin Islands law. Some businesses complied, but many failed to respond, forcing DLCA to recently issue subpoenas to every known wholesaler of fuel that has customers in the USVI.
“Consumers of the United States Virgin Islands, DLCA shall make every effort to bring fair prices to our territory” said Commissioner Richard Evangelista. “Perhaps the fuel retailers are unaware, but ignorance of the law is not a valid defense.”
Virgin Islands law grants DLCA the authority to determine the price at which all petroleum derivatives, including gasoline may be sold by wholesalers and retailers provided a reasonable margin of profit is allowed. As soon as DLCA receives the subpoenaed information from the wholesalers, the information shall be analyzed and DLCA shall promptly meet with each non-compliant fuel retailer to determine what is a reasonable margin of profit since it is unable to do so on its own volition.
Consumers or merchants with questions may contact Consumer Affairs Division on St. Croix at 340-713-3522, on St. Thomas at 340-714-3522 or on St. John at 340-693-8036. For consumer related issues, email firstname.lastname@example.org. To file a complaint, visit www.dlca.vi.gov or follow DLCA on Facebook @dlcavi.