World oil prices fall below fifty dollars

In economic news, the price of crude oil plummeted to its lowest yet today at below fifty U.S. dollar, at forty nine dollars ninety one cents a barrel. This is the lowest plunge since January 2007 showing loss of confidence in the global economy and a falling demand for fuel. That may be good news for consumers, but don’t get in your vehicle and drive off to full up at the fuel pump just yet because the prices in Belize will not go down quickly until the relevant shipment arrives in port. But what is good for consumers is bad news for the government. G.O.B. calculated its windfall tax at eighteen million when prices were hovering at a hundred and thirty three dollars a barrel. With the plunge in prices, that’s millions the coffers won’t be seeing.