Gas prices on STX

yes, we are all paying the arabs tons of money that is not justified. There is no oil shortage. In fact there is a surplus. But we are getting screwed by everyone. It is about time that we drill for our own oil < MR PRESIDENT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

But the rack price that the gas stations pay to buy the gas only went up 40 cents...once again the stations are the ones gouging the consumers, but for some reason most folks on stx don't seem to realize who the real 'teefs' are. you can also bet that if the wholesale price ever goes down, the full decrease will not be seen in the station prices...they just keep adding to their profits and blaming it on hovensa and bunkers.

I just filled up $3.85 regular here in Utah today. :

Gas prices in RI....$3.79

i heard prices could be up to 5 by june here on stx

For whatever reason the Hovensa rack rates are no longer published in the on-line Source or Daily News. It makes me think nobody wants the public to know. I assume you have to call somewhere to find out what the current rack rates are. Perhaps I am miss-informed but the gas station owners are no longer restricted on how much they can mark up the gas. I thought there used to be a "cap" on what owners could add onto rack rates. Anyway these gas station owners add exhorbitant additional cents/gallon to the rack rate when Hovensa goes up and when Hovensa lowers the rack rate, these owners never reduce the gas price by amount Hovensa reduced. We need to pressure the gov't to regulate the entire process.

Jumbie-STX

This gasoline pricing has been a real frustration to me for years. I believe hovensa/Hess began publishing the rack when they kept getting all the blame as the prices went up a few years ago...hoping that folks would see who was making the profit...but it doesn't seem to have made much impact on islanders. I can remember hearing a former head of H. on the radio, suggesting folks buy their gas at the cheapest place, since it was all the same gas on stx...
Right now, I can buy HESS gas, made in stx...for $3.49 in New Jersey, at a Hess station that takes credit cards, has an attendant who pumps all the gas, and the particular station I frequent is not a low-ball-pricing station, in fact it's in a real lousy neighborhood where prices tend to be higher. Gasoline taxes in NJ are almost 5 times the VI tax..., the fuel has to be transported to NJ, is sold to the NJ wholesaler at the same rack charged in stx, and this station is making a profit...at 3.49.
I don't think anything will change until and unless enough consumers decide they've had enough...the gov't says it's too hard to prove price-fixing among stations, and it is a free enterprise system with retailers allowed to sell stuff for whatever price they want...

Beachy - you are so correct about the consumer's deciding they had enough of the gouging and excessive profit by station owners and the gov't claiming it is hard to prove "price fixing". If there were a gas station that was undercutting the "standard" price by say $.20-$.30 cents per gallon, I would venture to guess, that station would suffer some negativeconsequences in some form or other from the other "owners'.

Jumbie -STX

My son is now paying $4.25 a gal in Calif and says he'll be paying $5 or more by next wkend. You know what they say: so goes Calif, so goes the nation.

I think the oil companies need a windfall profits tax levied against them. I mean after all, they pay no corp tax and get gov't subsidies and yet yield billions in profits.

don't know what ever happened, but a few years ago, there was a station on stx...think it was called Capitol? on the north road out by the toyota dealer etc..and they were undercutting everyone for regular gas...there was always a line.....

don't know what ever happened, but a few years ago, there was a station on stx...think it was called Capitol? on the north road out by the toyota dealer etc..and they were undercutting everyone for regular gas...there was always a line.....

They are still there -- intersection of Midland Rd & 75. In general their prices have been pretty much the same as a lot of the others.

Jumbie -STX

I don't like high gas prices either, but I have to put in a word for the dealers on STX. You can't compare prices with NJ because the gas stations in NJ probably pump 100 times the gallons of gas that a station on STX would. There's only 50,000 people and a limited # of miles of road. The costs to operate a station are probably not that much different in the two locations. Therefore the station on STX must have a higher mark up per gallon than the station in NJ.

Bassman -- I don't believe for 1 minute that volume has anything to do with how much money owners make pumping gas. It's the cents per gallon profit (after all fixed expenses) that matters.

The VI Daily News finally published the Hovensa rack rates for gasoline. The rack rate at Hovensa was $2.80/gallon for regular unleaded & they raised it $.40/gallon recently to $3.20/gallon With the $.07/gallon tax that the gov't collects that makes the effective purchase price by owners at $3.27/gallon for regular octane unleaded.. Selling it for $3.75/gallon makes their gross profit $.48/gallon or about 15% out of which they have to pay WAPA, etc.

The biggest gripe I guess I have is that this Venezuelan crude that comes in here is "crap" compared to NYMEX crude or Brent Crude oil. Yet Hovensa prices their crude on what the NYMEX spot market does. That is like comparing apples to oranges -not a fair comparison because logically the crude from Venezuela should be less costly than higher quality crude oil.. Only the very few know what the actual deal is between STX refinery & the National Oil Company of Venezuela.There are only a very few refineries in the Western world that can refine that high sulfur Venezuelan crude into gasoline & one of the refineries is on St. Croix. I think the entire VI is getting taken to the cleaners.

Jumbie -STX.

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i believe that rack price INCLUDES the 7 cents that goes to the gov't. The refinery started to collect it when the gov't gave up on trying to get it later from the stations... and, I disagree with the idea that gas station costs are higer in the VI, but no time right now to address that...

I hope you realize it costs a lot more to process that dirty Venezuelan crude than light crudes. Also, as I understood it, Hovensa sells gas at the cost of crude - they eat the cost of manufacturing crude into gas products for the islands. I recall an ad about 2 years ago in the Avis where Hovensa said the subsidy for VI gas for the prior year cost them $35 million!

If Hovensa can get on top of their maintenance/reliability issues they may have a chance to hit their production numbers and either return to profitability or at least lose a lot less making them a viable ongoing concern for their owners. If not, wait for the bankruptcy before a new partner steps in with Hess is my guess (would you invest in fixing this operation now when you could wait for bankruptcy and buy-in for pennies on the dollar?)

Bassman -- I don't believe for 1 minute that volume has anything to do with how much money owners make pumping gas. It's the cents per gallon profit (after all fixed expenses) that matters.

The VI Daily News finally published the Hovensa rack rates for gasoline. The rack rate at Hovensa was $2.80/gallon for regular unleaded & they raised it $.40/gallon recently to $3.20/gallon With the $.07/gallon tax that the gov't collects that makes the effective purchase price by owners at $3.27/gallon for regular octane unleaded.. Selling it for $3.75/gallon makes their gross profit $.48/gallon or about 15% out of which they have to pay WAPA, etc.

The biggest gripe I guess I have is that this Venezuelan crude that comes in here is "crap" compared to NYMEX crude or Brent Crude oil. Yet Hovensa prices their crude on what the NYMEX spot market does. That is like comparing apples to oranges -not a fair comparison because logically the crude from Venezuela should be less costly than higher quality crude oil.. Only the very few know what the actual deal is between STX refinery & the National Oil Company of Venezuela.There are only a very few refineries in the Western world that can refine that high sulfur Venezuelan crude into gasoline & one of the refineries is on St. Croix. I think the entire VI is getting taken to the cleaners.

Jumbie -STX.

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I will never forget what a former Citgo management employee at the Houston, Texas refinery once told me. I spent 15 yrs dealing with a major refiner in Texas. Back in 1997 or so, Citgo built a special unit at the then Lyondell refinery to refine Venezuelan crude into gasoline @ 235,000 barrels/day. What this Citgo person told me, and I will para-phrase: --It may cost more to build the refining unit to refine the high sulfur crude, but given the lower purchase price of the Venezuelan crude vs higher quality crudes they (Citgo) made more profit/gallon on refining the "dirty crude".into gasoline . Additionally if the spot market price for sweet crude (NYMEX) , stayed between $30/barrel - $40/barrel, everybody should make "decent" money

So in my opinion, the word bankruptcy, Hovensa claiming low margins/losing money/subsidizing the gasoline sold in VI, when crude prices are over $100/barrel --just doesn't click with me. They (Hovensa) should be making money hand over fist, but perhaps they don't have the "same deal" on purchase price with Venezuela. BTW -Citgo's presidents for a long time were from Venezuela even though Citgo hdqtr's were in Tulsa, Ok.

Jumbie-STX

$4.49 at Giant Gas in STT yesterday........

$3.44 a gallon in west Denver yesterday

What's the price for fisherman or boaters?

Doug

$3.75 less 10% with senior card at Shamu(sp??)
On STX

$3.75 less 10% with senior card at Shamu(sp??)
On STX

We go to Shauma (aka Speedy Gas) just because of the 10% senior discount. To get the full 10% off pump price stop pumping @ "even $10 amounts" -like $20, $30, $40, etc because they only deal in even dollar amounts for the discount.. For example if you put in say $36 worth --you don't get $3.60 off -you get $3.00 discount.

Crucian Petroleum (Across road from Plaza Extra East) that also gives 10% senior discounts.

Jumbie -STX

What's the price for fisherman or boaters?

Doug

$4.77 a gallon today at Crown Bay Marina.

Was told at Speedy you could purchase something else to make up a small difference to reach the round number.
Of course with the current prices who can afford a full tank anyway:S

Sorry this doesn't include USVI: http://www.utahgasprices.com/Prices_nationally.aspx