As Oil Prices Surge, DLCA Reminds Fuel Retailers Approval Is Required Before Any Hike

With fuel market uncertainty continuing to heighten public concern across the territory — Brent Crude oil was around $110 a barrel as of Wednesday — the Department of Licensing and Consumer Affairs is reminding fuel wholesalers, retailers, and marine service stations that they cannot raise prices in the USVI without first obtaining written authorization from the department.

DLCA said today that the requirement remains in effect under a renewed order first issued on April 16, 2024. The department said the measure is part of the government’s continuing effort to protect consumers and maintain fairness in the marketplace by ensuring that any proposed fuel price increase is reviewed before taking effect.

The requirement applies to fuel wholesalers, fuel retailers, and marine service stations throughout the territory. Under the order, businesses dealing in fuel, including gasoline, diesel, and propane, may only increase their prices after submitting a written request to DLCA and receiving approval from the department. DLCA noted that no price change may take effect until approval is granted.

To request a fuel price increase, wholesalers and retailers must submit the Notice to Change Price of Fuel form, including the amount of the proposed increase. They must also provide the date of fuel delivery and supporting documentation, including invoices reflecting the increased cost.