Fuel prices were adjusted at midnight - and it's a mixed bag. It reduced the price per gallon for Premium fuel by eight cents per gallon, while increasing the price of Regular fuel by one dollar and thirty two cents - creating the unusual scenario where Premium is now thirty cents cheaper than Regular fuel. Diesel went down by one dollar and six cents while Kerosene went down by forty-eight cents.
So, current pump prices in Belize City are listed at $14.53 per gallon for Premium, $14.83 for Regular, $14.84 for Diesel, and $14.03 for kerosene. That's punishing for vehicle owners but today the Prime Minister pushed back on the criticism that government is allowing pump prices to go too high:
John Briceno, Prime Minister
"Paul you will really ask me that question Paul, do you see the news? Do you know what is happening in Iran? Do you know what is happening with fuel supply all over the world? I mean it is a very leading question that you are asking. If you were to ask me what is it that we are doing to try to as best as possible to mitigate the increases of fuel then I think that would be a better question with all due respect. We all know the price is going up it is going up in the United States. In the United States the price of fuel has gone up probably almost double the price since for the past probably 8 or between 8 and 10 weeks. We are a very very small player when it comes to fuel when we are buying 100 gallons the United States is probably buying a million gallons so obviously they can buy and they can get better prices. But I have been saying it over and over what we have been doing is trying to cut the taxes on fuel. As of now we have given up about 80 million dollars in revenues. That is 80 million dollars that has already been programmed within the budget, but we just cant afford to pass the entire cost to our citizens so as a government we have decided we have to cut the taxes of what we charge and still give a little bit into the pump but we are doing as best as possible to hold down the cost but it is impossible for us to be able to do. We have decided as a government; we have already made a number of decisions in seeing where we can cut goods and services to be able to balance the budget, the different ways we want to look. But the one thing we won't be able to compromise is in the social services in providing grocery bags for the most needed, the housing, the land, education, NHI you know these are the pillars of the PUP government, important pillars of plan Belize 2.0 and that we don't compromise we have to compromise on other things and I say that to make the point that despite the price of fuel continues to go we are cutting the tax because we want to try to find that fine balance between the cost of fuel and the taxes."
