Find Cheap Gas On St Croix-Lets Post Cheap Gas Prices As We See Them

Department of Licensing and Consumer Affairs has noticed the lack of price drops.

http://virginislandsdailynews.com/news/dlca-cut-gas-prices-faster-1.1188227

DLCA: Cut gas prices faster

By DANIEL SHEA (Daily News Staff)
Published: August 13, 2011

ST. CROIX - When HOVENSA raises wholesale fuel prices, gas stations tend to quickly follow suit by adjusting the price at the pump.

They are not quite as diligent when the price drops.

For that reason, the V.I. Department of Licensing and Consumer Affairs announced Friday that it expected gas station owners to pass along the significant savings afforded by a significant drop in wholesale fuel prices that is expected to be announced next week by HOVENSA.

HOVENSA spokesman Steven Strahan confirmed Friday that the refinery's new rack rates on Monday would drop by 32 cents per gallon for regular gasoline, 30 cents per gallon for premium and 24 cents per gallon for diesel fuel. It will be the third straight week that the rack rate - the price of fuel purchased wholesale from the refinery - has dropped.

Under the upcoming changes, independent gas station operators in the territory will pay $3 per gallon for regular gasoline, $3.23 per gallon for premium and $3.20 for diesel when they buy their fuel wholesale at HOVENSA. Those prices include a 7-cents-per-gallon tax that the refinery collects for the government.

According to DLCA Commissioner Wayne Biggs Jr., gas station owners quickly turn out to apply for price increases when the rack rate goes up, but the businesses lack the same enthusiasm in reflecting a lower rate.

"Retailers are not applying the same aggressiveness when wholesale reductions occur," Biggs said. "When wholesale prices increase, there is no hesitation by retailers to submit the needed documentation to request approval for a price increase. Consequently, retail stations should utilize the opportunity to do the right thing and reflect the full wholesale price decrease in pump prices as soon as they purchase new fuel at the lower rack rate."

In seeking a price increase, a retailer must show DLCA proof that they have purchased fuel under the increased rack rate, Biggs said. But just as the department does not require price increases, they do not require price decreases.

"So we don't require them to lower it, but we expect them to pass the saving on to the consumers," Biggs said.

Since HOVENSA began changing the rack rate weekly, instead of monthly, gas stations' prices have not reflected the downs quite as much as the ups, he said.

"We have not seen it as often as we'd like to see it on the decreases," Biggs said.

HOVENSA adjusts its rack rates weekly, based on the previous week's market conditions, which are affected by domestic and international supply and demand and the price of oil in the global market. Prior to May, HOVENSA adjusted the rate on a monthly basis. That practice changed after sizeable jumps in price caused complaints, and a weekly change was determined to reflect the market price more accurately, Biggs said.

While crude oil futures are close to the same price per barrel they were at last year, according to the U.S. Energy Information Administration, HOVENSA's wholesale fuel rates are almost $1 per gallon more expensive, when compared with this time last year.

The average retail price for regular gasoline was $3.67 per gallon and for diesel it was $3.89 per gallon, according to the Energy Information Administration. Those figures are posted every Monday, so reflective prices are a week old.

There was an old guy at the East End Service Station (Tide Village) Friday cussing a blue streak because he didn't have enough cash on him to even fill his gas can at the $3.99 price they were charging. Dropped the F bomb every other word screaming at the top of his lungs. Needless to say, my kids were a little freaked and hurried to get back in the Jeep.

I am glad the DCLA is going to investigate these gas station owners for not decreasing when Hovensa decreases. Lord knows these owners increase prices when Hovensa increases.. Hovensa in the past 2 weeks had lowered the price for regular from $3.42 to now $3.32 (10 cent drop over a 2 week period). Based on what I read, Hovensa will be dropping prices again this week, usually published in Tuesday's VI Daily News.

t's absolutely ridiculous how the public contines to get screwed and most gov't officials keep their head in the sand.. I still maintain that Hovensa should also be investigated because when a Hess (Hovensa's former name) station in Reading, Pa is currently selling gas @ $3.29/gallon vs STX customers having to pay anywhere from $3.85 to $3.99, something is really out of kelter.Hovensa selling regular (refined Venezuelan crude) gasoline at a lower price to their East coast gas stations vs STX gas stations also begs for a DCLA investigation. .

Jumbie-STX

I am glad the DCLA is going to investigate these gas station owners for not decreasing when Hovensa decreases.

According to the article, DLCA is not going to investigate. They're basically just saying that they see the problem and they hope stations will lower prices.

"So we don't require them to lower it, but we expect them to pass the saving on to the consumers," Biggs said.

"We have not seen it as often as we'd like to see it on the decreases," Biggs said.

I am glad the DCLA is going to investigate these gas station owners for not decreasing when Hovensa decreases.

According to the article, DLCA is not going to investigate. They're basically just saying that they see the problem and they hope stations will lower prices.

"So we don't require them to lower it, but we expect them to pass the saving on to the consumers," Biggs said.

"We have not seen it as often as we'd like to see it on the decreases," Biggs said.

When pigs fly or try to fly is when these "owners" will consistently do the right thing for the driving public. If Hovensa does lower regular by $32/gallon for this coming week, that would be a $.42/gallon drop from 1st of August). So I guess by the DCLA hoping these guys will decrease by the appropriate amount; it's like saying "hey we're watching" and you had better behave. Reminds me of a parent disciplining their child.

Jumbie-STX

If I'm a station owner and my tanks are 75% full from the higher price because people were conserving more, should I just charge the new price without getting rid of my old inventory and take one for the Gipper.

If I'm a station owner and my tanks are 75% full from the higher price because people were conserving more, should I just charge the new price without getting rid of my old inventory and take one for the Gipper.

There must have been many stations that bought the lower priced gas in the past few weeks, but not a single one lowered their prices. Are they all acting in solidarity with the stations who are still sitting on expensive gas? (i.e.: price fixing)

The Price in Reading PA today is $3.62 Per Gallon, They get their gas from NJ refineries where Hess is still located. Also don't know if they (the owners of stations) are all sitting in solidarity with other owners (maybe) (maybe not) there are no price controls on gas in the USVI. Do you recall what it was like when we had a gas embargo. I would rather pay the higher price'

http://www.pennsylvaniagasprices.com/Reading/index.aspx -show prices a lot lower than $3.62.

Yes it does and that's wonderful if you look at the left side for PA Prices it's $3.62 on you're info page. I did notice a Hess station in Reading.

Let's not forget that the states rate includes .18 cents per gallon tax. We only include .07 cents.

Driving to work today, at Sunny Isle intersection, the gas station across the highway (not Shuama, the other one) was receiving a new load of gas. So let's see if they lower the price today! These gas stations are ripping us off. They should all have lowered their price by now.

I TOO sometimes think they're "ripping us off" by squeezing another 10 cents per gallon from us.
Unfortunately, I'm usually thinking this as I'm on my way to buy an $11 burger somewhere, or stopping to pick up a $6 gallon milk that I should have bought during my last errand run. Truth is, most of us waste more money on cheap drinks, mediocre food, and stupid errands.

In today's Avis & later this pm in the on-line St Croix Source is this article about new Hovensa rack rates. I copied the 1st sentence.

Hovensa dropped its wholesale price for regular gasoline by a massive 32 cents, to $2.93 per gallon, and premium by 30 cents, to $3.16 per gallon, effective Monday 8/15/11. .

What the article did not say is that there is a $.07/gallon excise tax passed on so in reality the new station owners buy price for regular unleaded is actually $3.00/gallon - before it was $3.32/gallon. It's a wait & see game on when and how much the station owners lower their price.

Adding the $.32/gallon drop this week to the $.10/gallon drop over previous 2 weeks -means a $.42/gallon lower buy price for regular. I'd be totally blown away if any owner drops their price more than $.32/gallon & keep that other $.10/gallon for their own wallets.:D

Jumbie -STX

I finally saw some price drops while driving around St. Croix today:

Golden Rock: $3.609
5 Corners: $3.889
One Love: $3.579

I finally saw some price drops while driving around St. Croix today:

Golden Rock: $3.609 -
5 Corners: $3.889
One Love: $3.579

-

So Golden Rock dropped $.39/gallon & One Love dropped $.32/gallon. 5 Corners still at same price.
Farms (formerly known as Capitol) at Midland & 75 Interesection close to Caribbean Auto Mart as of this pm is $3.579 (dropped from $3.899).
Tide Village was $3.759 as of Wednesday (dropped $.24/gallon from $3.999)

Jumbie-STX

Ziggy's out east is $3.52.9

5 Corners is now $3.549, down 34 cents from yesterday.

Gateway is $3.55.9, Cruzian Petroleum (by Plaza East) is $3.54.9, Sion Farm is $3.55.9, all stations in Sunny Isle are $3.55.9, LeReine is
$3.59.9, Wellco (by Schooner Bay store) is $3.65.9 ((td) & Tide Village is $3.75.9 ((td)).

So some dropped $.40/gallon (LeReine) and some only went down $.24/gallon (Tide Village). Ziggy's gets the prize for the lowest.

Jumbie -STX

How Hovensa can justify raising the rack rates this week (+$.14/gallon on regular) defies logic.They ares out of touch with what the world market for crude prices did last week. It's just yet another case of screwing the public in my opinion. New rack rate for regular unleaded effective this past Monday is $3.14 (includes the $.07/gallon tax). Look for the station owners to up their prices as soon as they buy a new load of gasoline.

Lionel's Golden Rock: $3.399
5 Corners: $3.449
One Love: $3.409

This morning 5 Corners had dropped price for regular to $3.369, or another $.04/gallon. Shauma & station across street both at $3.399.

Jumbie -STX

$3.399 all over the Sunny Isle area today.

I found out today that 5 Corners gas at $3.369 is cash only, although the store (groceries) takes credit cards or cash. They're running it like two businesses.

Here's the latest news article from today's VI Daily News regarding Hovensa dropping wholesale gas prices for the 4th week in a row.

http://virginislandsdailynews.com/news/hovensa-continues-to-slash-wholesale-gas-prices-1.1212816#axzz1ZrDa2xxX

Jumbie -STX

Hovensa did not change the rack rate for regular this week but did lower premium & diesel. So the prices for unleaded regular should stay where they are for another several days. Lowest I've seen is $2.299 at several stations. Owners are buying regular unleaded for $2.86/gallon.