Hovensa is increasing its rack price for gasoline, with regular climbing 10 cents from $3.14 per gallon to $3.24, and premium rising from $3.59 a gallon.
The new rates take effect Monday.
Those prices do not include the territorial fuel tax of 14 cents a gallon, which brings the real wholesale price to retailers to $3.38 per gallon for regular and $3.83 per gallon for premium.
The cost of diesel fuel rose a penny a gallon, to $3.55 a gallon plus the 14-cents-a-gallon fuel tax.
When Hovensa increased prices the second week of February by five cents per gallon for both regular and premium, it marked the second 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.
Has anyone figured out why the price of gas has remained well over 3 dollars a gallon throughout the current presidency. When he took office the price of gas was averaging 1.80 a gallon.
BillK
Since you apparently winked into existence the day Obama was inaugurated and have no knowledge of the preceding years, I’ll just inform you that prices were higher under most of Bush’s presidency, but the economy crashed in 2007 after seven years of Bush’s presidency and the economy went into freefall. Gas prices fell drastically at the same time, then shot back up to only somewhat below Bush-era prices when the economy stabilized under Obama.
But if you are an adult U.S. resident, you experienced this yourself and have a personal recollection of it, so I assume you are from somewhere else?