Belizeans Feeling The Price Pinch At The Pump

Oil prices are going up the world over - and in Belize where fuel was already very expensive, the prices are now stratospheric!

Prices went up at midnight - and the increase sees premium going up by 31 cents per gallon, regular by 21 cents per gallon, and diesel by three cents per gallon.

These increases are the result in rising acquisition costs, but government says it cannot reduce its tax take to give consumers a break. Government said it is working with the importers to try to lessen the impact of the increases, but, just like GOB, PUMA has to get its pound of flesh as well.

Channel 7

Gas prices are determined by supply and demand. While Venezuela, with all its geopolitical challenges, is no longer producing as much fuel as it use to, expect that at home fuel prices to go up, since Belize is no longer being supplied by or purchasing from Venezuela which was the cheaper fuel for us.

We can't get fuel from Venezuela because of payment logistics and the pressures from the US Government to sanction and punish Venezuela due to allege corruption practices.

As far as Belize is concerned, our current fuel suppliers are from "Texas" USA which is not the cheapest fuel around.