Regular Gasoline drops to the lowest price of the year

Following a number of increases in 2018, the price for regular gasoline has dropped to its lowest figure of the year. The Belize Bureau of Standards (BBS) informed that effective Friday, November 23rd, regular gasoline went down from $10.63 to $9.95. While this price will be reflected only on mainland pumps, the price for fuel here in San Pedro will see a slight reduction as well.

While the price for regular gasoline went down, other fuels saw an increase. Premium gasoline went up from $11.49 to $11.50, Diesel went up from $11.15 $11.16, and Kerosene went up from $8.69 to $8.70. The one-cent increase in these prices are the smallest increases recorded in the entire year. This last price change is fuel in the 25th adjustment observed for 2018.

According to the Statistical Institute of Belize (SIB), as of September 2018, transport carries an average inflation rate of 1.7% due to fuel prices. “With an increase of 1.7 percent for the month, the ‘Transport’ category was the main contributor to the overall increase in consumer prices compared to September 2017. This was mainly attributed to a 6.2 percent increase among prices in the ‘Fuel and Lubricants’ subcategory,” says SIB.

The Government of Belize (GOB) maintains that the price fluctuation for fuel is beyond their control as international market costs regulate it.

San Pedro Sun

Fuel prices decrease effective today

The price for premium has been reduced from $11.50 to $11.32.
Regular gas decreased by 19 cents, from $9.95 to $9.76.
Diesel decreased by 41 cents, from $11.16 to $10.75.
Kerosene decreased by 55 cents, from $8.70 to $8.15.

Gas prices will be rolled back

The next time you take a trip to the gas station, you may notice a change in gas prices which may not be by much, but at this time of year every penny counts. At midnight tonight, new gas prices will come into effect; however, premium and diesel will remain the same. Regular gas will decrease by forty-five cents meanwhile kerosene will decrease by eighty-one cents. As a result, the new price for regular gasoline is $9.31 and kerosene is $7.34.

LOVEFM

Controlled Pump Prices – 9th January 2019

Kerosene down 52 cents, Regular and Diesel remain steady.

Less than $2.USD in the states, I get the import cost drives up the price, but really that much of a difference for gasoline ?

Price of Fuel takes a dip below $10...

Further Decreases in the Pump Prices for Premium Gasoline and Diesel

The Ministry of Finance is pleased to announce that at midnight on January 17th, the price for premium gasoline will decrease by a further 52 cents, from $10.47 down to $9.95 per gallon. The price of diesel will also decrease by 52 cents, from $9.83 down to $9.31 per gallon. This is the third consecutive decrease in pump prices since November 2018. Over that time, pump prices have fallen as follows per gallon:

Premium by $1.54
Regular by $1.32
Kerosene by $1.87
Diesel by $1.84

It is also the first time since January 25, 2017 that all fuel products are priced at the same time below $10.00 per gallon.

The dramatic fall in fuel prices is principally due to weakening global demand reflecting concerns about economic growth prospects in 2019 and also a step up in production in the United States, Saudi Arabia and Russia.

Last night at midnight the pump price for regular gasoline will increase by 20 cents from $9.31 to $9.51 per gallon.

A release from the Ministry of Finance says this increase in price is mainly due to tightening global demand reflecting extreme winter conditions in North America and Europe.

Increase in Pump Price for Diesel Oil and Kerosene

The Ministry of Finance announces that at midnight on February 6th, the pump price for Diesel Oil will increase by 66 cents from $9.31 to $9.97 per gallon while the pump price for Kerosene will increase by 63 cents from $6.82 to $7.45 per gallon.

These price increases are due to a reduction in supplies from the major oil-producing countries in the Middle East and in Latin America, coupled with an increase in demand due to extremely cold winter conditions in North America.

Increase In Pump Prices for Diesel Oil and Kerosene

The Ministry of Finance announces that at midnight on February 27, 2019, the pump price for diesel oil will increase by 33 cents from $9.97 to $10.30 per gallon, while the pump price for kerosene will increase by 29 cents from the $7.45 to $7.74 per gallon.

These price increases are due to a reduction in supply from the OPEC countries and are also due to geopolitical uncertainties combined with an increase in demand in North America during the current winter season.

The seeming increase in the frequency of fuel price changes is due largely to high seasonal demand, particularly in the aviation, construction, and tourism sectors, combined with limited bulk storage capacities which together result in a need for more frequent shipments of fuel to the country in recent months.

The Government of Belize is working closely with the fuel industry to overcome these limitations and to ensure that the supply of fuel is at an optimum level and that prices remain as low as possible.

Increased Pump Prices for Regular and Premium Gasoline

The Ministry of Finance announces that at midnight on March 13, 2019, the pump price for regular gasoline will increase by 60 cents from $9.61 to $10.21 per gallon, while the pump price for premium gasoline will also increase by 59 cents from $10.31 to $10.90 per gallon.

These price increases are due to a reduction in supply from the OPEC countries combined with an increase in demand in North America and in the Far East.

The Government of Belize is working closely with the fuel industry to ensure that prices remain as low as possible.