shellLast night we told you about the increase in fuel prices announced by Government despite that sharp decrease in price per barrel of crude oil in the global market. Based on GOB calculations, due to the increase on import duties on fuel the price for a gallon of regular gasoline saw an increase of thirty seven cents and now sells for eight dollars and five cents. Diesel saw a hike of one dollar and now goes for seven dollars and sixty cents per gallon. As for Premium that saw a reduction of thirty one cents and the gallon now sells for nine dollars and seven cents.

But compared to the amount Belizeans need to pay now for regular and diesel fuel….the 31 cents reduction in Premium fuel seems insignificant. So why is GOB increasing the price of fuel when the barrel of crude in the world market is at an all-time low? That is a sign of cash strapped Government, says Leader of the Opposition John Briceno.

Honorable John Briceno – Leader of the Opposition PUP

“One of the easiest way for them to increase taxes is to increase tax on the fuel, if all of us have to buy fuel we can’t do better and that is what it has been happening to us, the government is desperate for money and they are going to find any which way to be able to get that monies to satisfy their appetite for the Belizean tax dollars.”


“And then you for see an increase in other taxes also?”

Honorable John Briceno – Leader of the Opposition PUP

“The Prime Minister is going to present his budget on the 8th of March and I am sure that we are going to see even bigger deficits that the government has been squandering monies to win an election or to buy an election, well they bought the election and now they have it in their hands and now so what is going to happen is that we are going to go through a serious hang us over that is going to be affecting each and every one of us.”    


It is of note that at the end of the yesterday’s release, the Ministry of Finance indicated that since the price of fuel products is likely to vary with each shipment, they expect that there may be a substantial downward adjustment in the coming weeks.

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