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Premium fuel next to go down says Financial Secretary

Posted: Thursday, November 9, 2017. 10:23 a.m. CST.

By BBN Staff:  Drivers can expect a reduction in the high cost of premium fuel soon, according to Financial Secretary Joseph Waight.

Waight explained this week that the Government of Belize is expecting a decrease in the next shipment of premium because it does not purchase premium fuel through the PetroCaribe arrangement. Waight also said that, given the current world price of fuel, gasoline is Belize is about as low as it can go, and may even be subject to future increases.

“Hopefully, it goes down some more, but it all depends on what happens internationally. There could be a scare in Iraq, or Iran, or something, and boom, it goes back up again,” Waight said.

After 13 price adjustments for 2017, the price per gallon of premium fuel stands at $11.92, while regular and diesel are at $10.13 and $9.50 respectively.

Prime Minister Dean Barrow, at a press conference last month, had assured that when the fuel shipment arrived last month, Belizeans would see “a further decrease in prices to below where the prices were when we had that spike.”

Barrow never actually explained which spike or how far down government expected the prices to go. Regular fuel has been over $10 a gallon since June, and premium has been over $10 a gallon since February.

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