GOB Commits to Holding Regular Gas and Diesel Prices at Current Levels

The Government of Belize has committed to continue keeping diesel and regular gasoline prices at their current levels. In a release issued today, G.O.B. reiterated the various steps it says Cabinet has taken to, quote, cushion increases in the imported price of fuel products, which has raised substantially as a consequence of, among other developments, the war in Ukraine, unquote. The release highlights G.O.B.’s steps to fix the prices on diesel and regular gasoline’s since March of 2022, while reducing import duties on these fuels. Secondly, G.O.B. says it has been engaging with Puma Belize Limited to ensure that they are acquiring fuel products at the lowest possible prices. As a third measure, tourism operators have been included in G.O.B.’s fuel cost relief program, while public transportation costs are being subsidized. But, G.O.B. says it is also losing fifty-five thousand dollars per day, as a result of the import duty reduction, for a total of twenty million dollars in loss by year’s end.