Gas price hike may be weeks away

While cane farmers may be getting a break in the form of more duty-free fuel, the rest of Belize will enjoy a few more weeks of grace before their gasoline bills go up. Government announced on Tuesday that it could no longer continue to reduce taxes on imported fuel in order to compensate for spiraling international prices. That new policy, which will result in higher fuel prices at the pump, will apparently not be felt until the next tanker ship arrives in two to three weeks time. The extent of the increase will depend on the price of the various petroleum products at the time of delivery. Esso is the sole importer of bulk fuel for Belize, while Esso, Shell and Texaco handle distribution. The rise in fuel costs is being felt over the entire globe and is the result of higher crude oil prices caused by strong demand and only limited supply.