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Honduras enacts a month-long gasoline price freeze in an inflation fight; Should Belize do the same?

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Posted: Friday, June 24, 2022. 4:02 pm CST.

By BBN Staff: Gas prices continue to soar around the globe and countries are attempting to cope with the rising inflation rates.

In Honduras, the government has passed a month-long freeze on increases in gasoline and diesel prices.

 Reuters report that inflation in the last year through May reached over 9% driven primarily by surging fuel prices following Russia’s invasion of Ukraine.

Honduran officials noted that the prices of regular gas and diesel will remain frozen for 4 weeks commencing Monday, June 27- this is being done to alleviate the impact of international fuel prices on the national economy.

Meanwhile, Belizeans are concerned about the rising costs of fuel which is causing a ripple effect on almost every consumer product. Prime Minister John Briceno had previously stated that several factors are influencing the rising fuel prices including potential hurricanes, inflation, COVID-19, and especially the current war in Ukraine. 

Central American countries continue to grapple with rising inflation which is reflected in the surge in food and energy prices.

 

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