Fuel prices go up

If you own a car or truck you may want to fill up your tank tonight because on Thursday gasoline and diesel prices go up. The government announced the increase on Tuesday night saying fuel acquisition prices have steadily increased over the past several months and although government had been keeping the price at the pumps steady by decreasing the taxes and duties, it can no longer afford to do so. As a result premium gas will go up by twenty-nine cents a gallon, regular rises by twenty cents, and diesel increases by eleven cents. Kerosene won’t be exempt, rising by twelve cents. The government says the increases are beyond its control because not only are fuel prices going up on the international market, but freight and insurance costs have also risen. While the government controlled prices have now increased, the system of having tax revenue fluctuate while pump prices stay fixed will apparently be retained. Sources in Belmopan say that the current rates should remain stable for the medium term barring any radical fluctuation on the world petroleum market. Those sources, as well as officials in the Ministry of Finance and Press Office, have been less than forthcoming, however, on the subject of just how much money government derives from taxes and duties on fuel. Their press release puts the tax bite at between one fifty and two dollars per gallon but our requests to find out exactly how much money in total winds up in the Treasury each year were met with hems and haws followed by outright denials of information. For its part the Opposition United Democratic Party issued a release this evening condemning the increases and called upon Government to rethink the proposition and at least moderate the size of the price hikes.