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Ministry of Finance foresees a decrease in fuel prices in coming weeks

Posted: Thursday, June 7, 2018. 4:58 pm CST.

By BBN Staff: The Ministry of Finance (MOF) today informed that effective midnight tonight there will be an increase in the pump price of Diesel Oil from $10.63 to $10.97 per gallon in Belize City.

However, the pump prices for diesel oil in the districts will be slightly higher due to internal freight charges.

There will be no changes in the pump prices of gasoline and kerosene.

According to the Ministry, the increase in the price of Diesel is due to a lagged effect on domestic prices from the recent spike in the world oil prices.

“In recent days, world oil prices have begun to trend downwards, and it is certain that the next shipment of fuel products, which is due toward the end of next week, will result in markedly lower prices at the pump,” the MOF states in the release.

The Government of Belize says that it continues to work with PUMA and with all local suppliers, wholesalers, and retailers, to ensure that in future any potential price increases are kept to a bare minimum and that any world oil price decreases are passed through to the local market as quickly as possible.

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