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Jan 7, 2015

Gas Prices Continue to Plummet

Remember back in March of 2009 when fuel prices at the pumps for regular and premium were just above five dollars? Since then the prices for the most part went up continuously and consumers paid more than double that price to over eleven dollars per gallon. The biggest spike was in April of 2009 when the prices for premium and regular fuel went up by one dollars and thirty-five cents. Although the prices fluctuated, they remained high hitting hard on the pockets of drivers, taxi-operators and tour guides. Fuel prices in the world markets have been below the hundred dollars mark for some time now and continue to decrease plunging as low as forty-eight U.S dollars for crude oil. On Monday at midnight, fuel prices fell at the pumps at their lowest mark in five years. Regular gasoline decreased by eighty cents to seven dollars and fifty-seven cents; premium gasoline went down by seventy-nine cents to eight dollars and one cent and diesel went down by sixty-seven cents to seven dollars and twenty-one cents. Today, we spoke with consumers who depend on fuel for their daily bread and butter.

 

Clarence Pandy, Cruise Ship Taxi Association

“You really want I tell yo the truth? It feels nice and we hope ih keep it this way because then we can pass on the prices to the tourists and we could get better jobs and then everything could be better. So we just hope that the prime minister keep it all together and we wah thank him for this and we gwen straight forward.”

 

Duane Moody

“Do understand that it all depends on the world prices…that’s why it fluctuates. But do you expect that it is going up after this or lower?”

 

Clarence Pandy

Clarence Pandy

“Champ, it’s like life….life goes up and it goes down. But the idea is that it is here and it is down now and we will enjoy it and we hope it keep for a long time—we know it can’t stay there, but we hope it keep for a very long time and we try make things better.”

 

Duane Moody

“Fuel prices are down at the pumps, could you tell us about how it is benefitting you as a taxi operator?”

 

Kenneth Garbutt, Taxi Operator

“Yeah, well of course we will see a little wider profit margin. I’m real happy. I mean from eleven dollars something to seven something. So that is really good for us.”

 

Duane Moody

“Tell us about how it has been affecting business…you know, the higher prices in fuel. I believe you had to take up your prices because of this.”

 

Kenneth Garbutt

Kenneth Garbutt

“Well not really. We’ve been charging seven dollars for years now and it still remains the same, we haven’t lowered it yet.”

 

Duane Moody

“So this would definitely help you guys completely when it comes to making money?”

 

Kenneth Garbutt

“Yeah like I said, if gives us a better profit margin now.”

 

Duane moody

“Now do you think that the prices are going to go back up or they are going to stay down?”

 

Kenneth Garbutt

“Now that’s hard to predict because we in Belize don’t have any control over that. It is a worldwide, but I hope that it goes down even lower if it is possible.”

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Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

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