Belize City: 3rd February 2022

Word of the increase scattered like wildfire on the social media as government announced yesterday that effective this morning, motorists will have to dive deeper into their pockets to foot the cost per gallon of gasoline at the pump.

These changes hit the spot precisely because the rise in prices affected both Premium and Regular Gasoline at the same time.

Premium gasoline saw an increase by 43 cents, from what is considered an already high $12.30 to a whopping $12.73 per gallon.

Regular gasoline also increased by 18 cents from $12.10 to $12.28 per gallon.

The prices of Kerosene and Diesel remained the same even though, the cost of these latter two, are also outrageously high as it is.

Whilst there is some truth that the shift in prices from time to time reflect on supply conditions of crude on the world market, there is also some truth to allegations of speculation by present Importers, in the acquisition of refined fuel products from which Belize obtain its supplies.

During the last recent years, PUMA and UNO have been served with 14 CHARGES regarding Speculation and manipulation of Prices of Fuel in Guatemala.

These astonishing prices just gets worst because of the very high Duties paid to government which then translates to high prices at the pump that end up being paid by Belizean motorists.