Fuel prices hiked

Motorists in Belize are feeling another burn in their pockets as fuel prices rose again on Wednesday following a price hike just weeks ago. With the hike, premium gas is now cheaper than Regular.

Pump prices are now $9.62 per gallon for regular gasoline, up from $9.12, while Premium remained stable at $9.26 per gallon and diesel, constant at $8.29 a gallon.

This new increase follows hard on the heels of an earlier price hike just two weeks ago, when regular gasoline was hiked from $8.87 to $9.12; while diesel prices went down from $8.36 per gallon to $8.29.

More than 50 percent of the pump price is tax, as most of Belize's fuel is now being shipped from Texas, USA, where pump prices have been US $1.79 or Bze $3.58 per gallon for Regular. Premium is US $1.89 or Bze $3.78 and Diesel is US $1.74 to $1.79 per gallon or Bze $3.48 to� $3.58.

Price hikes in Belize normally affect acquisition costs, and U.S. fuel prices went up in mid April; when regular gas went up 14 cents U.S., Premium went up 12 cents U.S., and Diesel increased 6 cents U.S.