The wholesale price from the Hovensa rack of regular grade gasoline in the territory will drop eight cents, to $3.18 per gallon from $3.26, and premium by two cents, from $3.55 per gallon to $3.53 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 $3.32 per gallon for regular and $3.67 for premium.

The Hovensa price held steady last week, but declined by 18 cents per gallon for regular and 27 cents per gallon for premium, the week of March 18-24.

Before the recent declines, the price for regular increased 30 cents per gallon and premium by 28 cents per gallon, between Feb. 25 and March 17.

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 through 15, 2012.