G.O.B. Cuts Fuel Taxes to Try and Manage the Cost to Consumers

Here’s an update on what the government is doing to deal with the rise in fuel prices. Today the Ministry of Finance announced that effective April first, the regulated pump price of diesel remains at thirteen dollars and forty-one cents per gallon in Belize City. Prices are higher in the districts due to transportation costs. According to G.O.B., the most recent shipment of diesel had an increase in acquisition costs.  However, to maintain the pump price at the current level, the government reduced all levies on diesel by seventy-six cents per gallon. This is in addition to an earlier reduction in taxes of one dollar and seventeen cents that took effect on March twelfth. Thus, the total reduction in taxes on diesel this month now stands at almost two dollars per gallon.