Prices circa 2008. (Photo by Paulo Ordoveza)

The gas station next to the Watergate Hotel re-opened for business this week, and not only does it have a new owner and new brand, it also has a new pricing model: The market rate.

The Washington Times reports that the station formerly known as the Watergate Exxon started up again as a Valero after being closed for five months. Last November, when it closed up, a gallon of regular unleaded gasoline went for $5.04. Now it’s $3.79, a bit below the current local average of $3.95.

But the most important difference might be that local gas station kingpin Joe Mamo is no longer in charge:

The price of gas at the Watergate station—and at other stations owned by Eyob “Joe” Mamo, owner of the Valero and the primary owner of Capitol Petroleum Group—has long been a point of contention. Mr. Mamo owns 45 gas stations in the District, according to a 2011 report in the Washington City Paper. Last year, he beat an antitrust lawsuit in federal court in Alexandria, legislation that would have threatened his operation failed in the D.C. Council, and the city’s attorney general dropped an investigation into claims that he inflated prices.

The new owner, Eddie Hassan, previously ran an Exxon station in Adams Morgan for 30 years.