New gas prices announced

Posted: Tuesday, December 25, 2018. 8:40 a.m. CST.

By BBN Staff: The Ministry of Finance yesterday announced that the price for Premium Gasoline will decrease by 85 cents from $11.32 down to $10.47 per gallon. 

The price of Diesel will also decrease by 92 cents from $10.75 down to $9.83 per gallon.

The new prices are effective today, Christmas day.

The Ministry says that these substantial decreases in the prices of Premium Gasoline and Diesel follow earlier decreases in the prices of Regular Gasoline and Kerosene, which took place just three days ago on December 22.

The plunging fuel prices are principally due to weakening global demand reflecting concerns about economic growth prospects in 2019, but also as a result of surging production in the United States, Saudi Arabia and Russia.

To add to the good tidings of low prices, the Ministry of Finance informs the public that Belize has, as of last month, fully adopted the new Central American standard for higher quality, cleaner and more environmentally-friendly Low Sulfur Diesel. Specifically, the sulfur content of the Diesel now being purchased is less than 10% of previous levels. 

The Government of Belize continues to work with PUMA and all other industry stakeholders to ensure that the current downward trend in world oil prices are passed onto consumers as quickly as possible. 

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