| Fuel Price Increase in Belize |
| SC Admin |
05/5/2008
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Environment & Energy
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Increase beyond government's control
Belmopan - May 5, 2008 -- The
Ministry of Finance informs the public that the next tanker of fuel due
to arrive in Belize (May 2), will reflect sharp increases in the
acquisition cost of all major fuel products.
The new price per gallon of the four major fuel products will be as follows with effect from May 3, 2008:
Premium: from $10.00 to $10.59
Regular: from $ 9.90 to $10.45
Kerosene: from $ 8.94 to $ 9.72
Diesel : from $ 9.08 to $ 9.61
These increases are due directly to the continuing rise in the price of
crude oil on the world market and are beyond the control of the
Government of Belize.
The Government of Belize has had to pass on these increases as it has
already removed altogether the Revenue Replacement Duty on Kerosene and
Diesel and has also reduced Revenue Replacement Duty on gasoline to its
lowest point in over ten years.
The Government assures the public that it continues to do everything
that is fiscally responsible to try to hold down on the increases in
the cost of fuel and that any reduction in the world price of oil that
may occur in the future will be reflected in the prices at the pump.
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