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Price for Regular Fuel Spikes, Diesel and Premium Stable

Fuel prices are being adjusted at midnight tonight - regular is going up 31 cents per gallon, from $9.87 to $10.18 in the city.
The prices for Diesel and Premium fuel are going down but only by once cent per gallon each. So premium will be $10.53 per gallon, while Diesel will be $8.96 per gallon.

Channel 7

Premium fuel now $10.97 per gallon



What was perceived as somewhat of a reprieve at the fuel pumps on July 1, 2017, when the prices for Regular Fuel and Diesel were decreased, was short-lived as on Tuesday night there was a stark increase in fuel. The Belize Bureau of Standards noted that while Regular Fuel remains at ten dollars per gallon and diesel at eight dollars and eighty one cents per gallon, the cost of Premium Fuel has been upped by forty four cents; putting the new price at ten dollars and ninety seven cents per gallon. Meanwhile, Kerosene remains at five dollars and thirty cents per gallon.

GOB's Controlled Fuel Pump Prices (Belize City)
Effective Date: Wednesday, 19th July 2017

If your vehicle uses regular fuel or diesel, you'd be well advised to put in gas tonight. That's because prices are going up sharply at midnight. Regular gas is going up 51 cents per gallon, while diesel is going up fourteen cents per gallon. The increase on regular fuel amounts to a 5.5% hike, while the increase on diesel amounts to 1.75%.

Premium, diesel and kerosene prices going up

For the second time in less than two weeks, fuel prices are going up. Yesterday at midnight, Premium gas, diesel and kerosene all saw a hike in prices. Premium is up by 50 cents per gallon while diesel has increased by 44 cents. Kerosene is also seeing a sharp increase, going up 59 cents per gallon.

Again, these changes went into effect at midnight .

Hurricane Harvey Hurts Consumers at Pump

Tonight the government is warning consumers to brace for higher gas prices - and they say it's because of Hurricane Harvey, not broke Belmopan.

A rare press release on fuel prices says that Hurricane Harvey caused the oil refineries in the Houston area to shut down - which has caused a spike in pump prices across the USA - since Texas refines about 25 percent of all crude oil in the U.S.

Now, if you're scratching your head and saying but don't Belize's fuel products come from Venezuela? Well, not all of it - and not since that country has been plunged into a domestic crisis. The government release notes that Belize imports a substantial quantity of refined fuel from Houston - to supplement the inconsistent supply from Venezuela.

But with this supply source temporarily shut down, PUMA gas now has to truck fuel in overland from El Salvador. It's more expensive, and that price change will be reflected at the pump - where prices are already cripplingly high. The release says, quote, "pump prices are expected to increase in the days ahead. The extent of the increase is not known at this time." End quote. We'll keep you posted as to when the change goes into effect. Prices last increased less than two weeks ago.

Channel 7

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Expected Increases in Fuel Prices Due to Hurricane Harvey

With the passage of Hurricane Harvey over southern and coastal Texas last week, the oil refineries in the Houston area have shut down and are not expected to resume normal operations and return to full output for some weeks to come. The oil industry in Texas refines about 25 percent of all crude oil in the USA.

The resulting shortages in refined petroleum products have caused a sharp spike in pump prices across the USA and also in other countries that purchase refined fuel product from the Houston suppliers.

This has also affected Belize, as Belize does import a substantial quantity of refined fuel from Houston suppliers on a regular basis in addition to purchasing refined fuel from Venezuela under the Petrocaribe Accord. With this source of supply temporarily closed, Belize is having to purchase and truck in overland fuel from El Salvador at higher costs than would otherwise be the case.

Such costs are being reflected in the local pump prices which are expected to increase in the days ahead. The extent of the increase is not known at this time.

The Government of Belize is working closely with the key supplier, PUMA, to ensure that such increases are kept to a bare minimum and remain for the shortest possible time.

Fuel Price Up For Third Time In a Month

And while Briceno wants financing for the productive sector, a break on gas prices wouldn't be bad either. Those prices are going to climb again at midnight - the third increase in a month.

This time, premium's price is remaining the same at 10.99 per gallon, but regular is going up by a whopping 92 cents, making it more expensive than premium at $11.13 per gallon. So - if you use regular - fill up tonight, or just buy premium tomorrow.

Diesel is also going up by 37 cents per gallon. Government and recently warned that fuel prices would be going up because of Hurricane Harvey and the damages it did to oil refineries in Houston- which caused prices to go up.

Channel 7

EXPECTED MODERATION IN FUEL PRICES

In the last few weeks Belize has seen a sharp increase in fuel prices due to a confluence of negative factors influencing the acquisition costs of refined fuel sourced by Belize.

Such factors included a temporary irregularity in supply under the Petrocaribe Program and also limitation in supply from alternate sources due to the effects from Hurricane Harvey.

The increases in the pump price were not driven by any increase in import duties or excise taxes which are fixed, specific-rate taxes, and which have not changed since the beginning of the Government's financial year in April 2017.

In recent negotiations with senior officials from PDVSA (the Venezuelan state-owned suppliers under the Petrocaribe Program), Belize was assured that PDVSA is now in a position to resume deliveries to fully satisfy the requirement of Belize and the prices should moderate beginning with the next shipment of fuel which is expected to arrive in the middle of October 2017. While it is too early to say precisely the extent of the expected price reduction, the GOB is confident that prices will moderate in the weeks ahead.

Government of Belize Press Office

Finally a Break On The Pump Price For Fuel

Yesterday, we showed you how a group of grassroots activists staged a protest in downtown Belize City to complain about the high gas prices. Well, the Government is announcing that the price of regular gas is going down by as much as 84 cents.

A press release from the Government says that a new shipment of regular gasoline arrived in country today, and it will bring down the current pump price by 84 cents, from $11.13 to $10.29.

The price change goes into effect at midnight so, you'll may want to hold off until tomorrow to full up.

Premium and Diesel prices remain unchanged in this shipment, but Government says that those too should go down when the next shipment arrives.

Channel 7

Regular Fuel Drops By 16 Cents...Kerosene Increases

Over the past months Belizeans have been paying record high prices for fuel while other Central American countries are experiencing considerable drops providing relief to drivers. Here in Belize while the Prime Minister has promised to reduce the cost per gallon of fuel it seems that won't happen anytime soon or if it does it won't be a drastic drop which is exactly what Belizeans are clamouring for.

On October 6th the price for regular gasoline reduced by 84 cents after Belizeans threatened to protest the high gas prices. And then last week Wednesday the Prime Minister promised that as soon as the next Venezuelan ship touches down on our shores consumers will quote "see a further decrease in prices, to below where the prices were when we had that spike."

Well tonight we are seeing a reduction in fuel prices but it is not huge. Effective midnight tonight Regular gasoline will sell for $10.20 seeing a decrease of 16 cents. But that is as far as the reduction goes because Premium gasoline remains at $11.99 and diesel at $9.71 and instead of dropping the price per gallon of kerosene increased by 20 cents taking the price to $5.96.

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