And the way fuel prices have been going, you might want to look seriously at electric transport. Now, most people have been blaming the increases on government, but, today the Ministry of finance sent out a release to say they have been absorbing with the increases.
The release says that the most recent shipment of diesel which arrived this week came with another increase in acquisition costs. So government said it reduced "all levies on diesel by 76 cents per gallon" to keep the pump price stable at $13.41 per gallon.
On March 12th it did the same, reducing the tax take by $1.17 per gallon. The release adds, quote, "Though future prices are impossible to predict, the Government of Belize continues to examine all viable policy options for minimizing the fuel price shock, balancing...the twin demands of affordable pump prices and national budgetary requirements." End quote.
A Cabinet brief adds, quote, "Cabinet considered various relief measures in connection with heightened fuel prices and their volatility…Cabinet is evaluating possible targeted subsidies as well. Cabinet further determined that constituent commercial components of the fuel price including the dealer's margin and the depot fee be urgently renegotiated." End quote. We'll se how that sensitive issue affecting Puma and the Fuel dealers plays out.
