Go and fill up your tanks tonight because tomorrow morning a gallon of premium gas will cost you $10. That's right, at midnight the pump price for premium gas in the city will climb from $9.84 to $10, a 16 cent increase. Regular gas jumps from $9.53 to $9.75, a 23 cent increase. Meanwhile diesel increases 31 cents from $7.10 to $7.41. Kerosene goes from $6.25 to $7.48, an increase of $1.23 - making it more expensive than diesel for the first time.
Again, the prices quoted are for Belize City. Further down south in Punta Gorda the price will be closer to $10.30. About two weeks ago prices increased by an average of 38 cents. If you are keeping count since the start of 2005, the price of a gallon of premium gas has increased by $1.67.
For what it is worth, the acquisition cost for this shipment increased 95 cents for premium, 45 cents for regular, 92 cents for diesel, and $2.02 for kerosene. Government is passing less than 25% of that increase and is absorbing the rest. The last time government absorbed half of the increase in acquisition price. Still, over 40% of every gallon of gas you buy is tax revenue for government.
