World Fuel Price Affects Belize
Belmopan - 25 March, 2008
The Ministry of Finance informs the public that a tanker of fuel that arrived in Belize on March 22, 2008 reflects sharp increases in the acquisition cost of Gasoline, Kerosene and Diesel.
In an effort to minimize the increase in pump prices, the Government has decided to absorb half of the increase in the cost of gasoline, and to pass the other half on to the price at the pump. Consequently, the new Price for Premium Gasoline will be $9.95 per gallon while the new Price for Regular will be $9.70.
In regards to Kerosene and Diesel, there is little for the Government to partially absorb the cost increase since the Revenue Replacement Duties on these two items is now zero, having been reduced continuously over the past several months. Consequently, the Government wishes to inform the public that Kerosene will increase by $1.18 per gallon, - from $7.69 to $8.87 per gallon and Diesel will increase by $0.81 per gallon - from $8.10 to $8.91 per gallon. The new prices came into effect on Sunday, March 23, 2008.
The Government assures the public that it has done everything that is fiscally feasible at this time to absorb as much of the increase in the price of fuels while monitoring the prices on the world market.