Sol Petroleum Expansion Targets Stubborn Gas Prices USVI

Motorists in St. Thomas/St. John may see relief as Sol Petroleum pledges to support the fuel distribution network amid concerns over persistent price disparities with St. Croix. DLCA hopes the move will drive competition and lower costs

Motorists in the St. Thomas/St. John district may soon experience some relief at the gas pumps, where fuel prices have traditionally been higher than those on St. Croix. Sol Petroleum has pledged to support the territory's fuel distribution network, according to Department of Licensing and Consumer Affairs (DLCA) Commissioner Natalie Hodge, who addressed lawmakers on Tuesday. Speaking before the Senate Committee on Government Operations, Veterans Affairs, and Consumer Protection, Ms. Hodge highlighted Sol Petroleum’s “significant benefit to the local fuel market,” as demonstrated by the “price differences between St. Croix and St. Thomas/St. John.” Her presentation included an update on DLCA’s recent activities and the results of fuel and market basket surveys conducted by the department.

“Fuel surveys are conducted weekly and designed to inform consumers of the most affordable fuel price throughout the territory,” Ms. Hodge explained. She noted that fuel prices for regular, premium, and diesel have remained relatively stable across the Virgin Islands in 2024, with little fluctuation. However, fuel prices on St. Thomas and St. John continue to surpass those on St. Croix, prompting DLCA to express hope that Sol Petroleum’s proposed expansion would “foster healthy competition in the St. Thomas/St. John market, potentially driving down fuel prices for consumers.”