Taking this a little further ...
Looking at the relative price of gas and diesel in Belize and the U.S. over the past few years, it's clear that -- relatively speaking -- Belize gas and diesel prices have increased far less than in the U.S. and the relative premium that Belizeans pay has shrunk. Unleaded regular gas n Belize increased 54% in the six years from mid-2002 to mid-2008, whereas in the U.S. unleaded regular increased by 187% in the same period. Diesel prices in Belize increased 113% in the past six years, while diesel prices in the U.S. jumped 252%. Although gas and diesel prices remain higher in Belize than in the U.S., the relative premium paid in Belize has shrunken dramatically. For example, in mid-2002 Belizeans paid 151% more than Americans paid for unleaded gas, but in mid-2008 Belizeans paid only 35% more. In the case of diesel, in mid-2002 Belizeans paid 70% more than Americans, but in mid-2008 Belizeans paid only 3% more.
The first figure is unleaded regular gas; the second is diesel. All figures are expressed in U.S. dollars.
U.S. Belize
Late 2000 $1.70/ $1.49 $2.90/$2.15
Mid 2002 $1.35/$1.32 $3.40/$2.25
Late 2006 $2.59/$2.71 $4.60/$3.49
Mid 2008 $3.88/$4.65 $5.23/$4.80
Note: Gas and diesel prices in the U.S. historically vary considerably month by month and also regionally.
--Lan Sluder
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