Posted: Friday, February 15, 2019. 3:16 pm CST.
By BBN Staff: The Ministry of Finance announced today that at midnight tonight the pump price for Regular gasoline will increase by 10 cents from $9.51 to $9.61 per gallon and the pump price for Premium gasoline will also increase by 12 cents from $10.19 to $10.31 per gallon.
The Ministry says that the price increases are due to a reduction in supply from the major oil-producing countries due to geopolitical uncertainties combined with an increase in demand in the current winter season.
The seeming increase in the frequency of fuel price changes is due largely to high seasonal demand, particularly in the aviation and tourism sectors, combined with limited bulk storage capacities which together result in a need for more frequent shipments of fuel to the country in recent months.
The Government of Belize informs that it is working closely with the fuel industry to overcome these limitations and to ensure that the supply of fuel is at an optimum level and that price remains as low as possible.
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