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Changes in Fuel Prices of Premium Gasoline and Kerosene

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Posted: Tuesday, September 3, 2019. 3:33 pm CST.

By BBN Staff: The Ministry of Finance today announced that effective Wednesday, September 4th, 2019, the pump price of premium gasoline will increase by 19 cents from $11.12 to $11.31 per gallon while the pump price for kerosene will decrease by 26 cents from $7.63 to $7.37 per gallon.

According to the Ministry, the prices for regular gasoline and diesel will remain unchanged at $10.12 and $10.04 per gallon, respectively.

The Ministry says that the price increase in premium gasoline is due to increased demand in North America during the summer months and a reduction in supply from OPEC countries.

“In the upcoming months, the forecast is for fuel prices in the United States of America to trend downward as a consequence of a number of factors. The increased oil production in the U.S. will be a major contributor to the lower prices. In addition, U.S. oil refineries that were plagued with problems earlier this year are back online and producing significantly greater amounts of gasoline. The value of the U.S. dollar also remains strong against other currencies. All these factors are expected to weigh heavily on the price of fuel imported into Belize,” the statement from The Ministry notes.

The Government of Belize says that it will continue to monitor world fuel prices and will remain committed to ensuring that future reductions in price movements will be reflected in the prices at the pump.

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