Gas Breaks The $12.00 Barrier
Just before the election, Government announced that it would be absorbing a sharp increase in the acquisition price of fuel - which meant giving up 1.5 million dollars in revenue.
It's not the kind of thing that can be maintained, and so on Wednesday morning, the full weight of increased world prices fell like a load of bricks on the Belizean consumer.
Premium fuel jumped by 49 to a crushing $12.12 per gallon, Regular jumped by 50 cents to a prohibitive $11.81 per gallon, and diesel went up by twenty cents to 10.90 per gallon.
Price of fuel at the pump way up
Remember the days when five or ten dollars gas in your car would take you a long way? Well, those days are a distant memory because now ten dollars doesn't even get you a gallon of fuel. Tonight the news is that fuel prices continue to surge. There was another major hike on Wednesday. Premium shot up by forty-nine cents to now sell for twelve dollars and twelve cents per gallon. Regular gasoline is now selling for eleven dollars and eighty-one cents. That's a spike of fifty cents on the previous price. Even Diesel, which was once considered the affordable option, is almost eleven dollars per gallon. After a twenty-cent increase, it is now selling for ten dollars and ninety cents.