Brace Yourself for Higher Fuel Prices

Rodwell Ferguson

Fuel prices are on the rise, and it is expected that those figures will go even higher before consumers will see a decline. This is because the world prices are already up and, with the conflict between Ukraine and Russia; the implications are that within a few weeks, inflation of fuel and other imported commodities is inevitable. PM Briceño has said that the government needs to collect on its fuel taxes and despite G.O.B. absorbing a recent hike in the cost of diesel; ultimately, taxpayers will feel the brunt of it. Today, Minister of Transport Rodwell Ferguson reiterated that higher fuel prices will come.

Rodwell Ferguson

Rodwell Ferguson, Minister of Transport

“You might say okay let us reduce the taxes on fuel, but I think the Prime Minister said in previous encounters that we have gotten a broken economy and we are trying our best to rebuild it back to where it was. And we have committed now to teachers and public officers that come July first; we are going to restore back their ten percent. So our Belizeans need to be patient. I think we have a government that is working to improve the living conditions of all Belizeans, but it can’t happen overnight.”