Tonight at midnight the prices for Premium gasoline and Kerosene oil will experience changes at the pumps.
The prices for premium gasoline will register increase of nineteen cents while kerosene will register a decrease of twenty-six cents.
Following these newest price changes the price of Premium gasoline goes from eleven dollars and nineteen cents to eleven dollars and thirty-eight cents per gallon here in Orange Walk. Kerosene on the other hand goes from seven dollars and seventy cents to seven dollars and forty-four cents per gallon.
The price for regular gasoline and diesel will remain unchanged at ten dollars and nineteen cents and ten dollars and twelve cents per gallon respectively.
According to a release by GOB, this latest 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.
The release also adds “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. All these factors are expected to weigh heavily on the price of fuel imported into Belize.”