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Nov 8, 2017

Premium Fuel Prices to be Reduced, Stabilized

October has come and gone and fuel prices remain relatively high despite continuous protest. As of October twenty-eighth, premium fuel retails at eleven dollars and ninety-two cents, compared to ten dollars and fifty-three cents after a price decrease was announced at the start of June. And after a crunching price rise for both regular and diesel, regular has registered a measly decrease and is at ten dollars and thirteen cents; diesel remains above nine dollars. Relief was promised by the Prime Minister, but is still long in coming.  But according to Financial Secretary Joseph Waight, a reduction is headed our way for non-Petrocaribe sourced premium fuel. He also warned, however, that this may be the last decrease we see for time due to international issues with oil.

 

Joseph Waight

Joseph Waight, Financial Secretary

“The next item to come is premium gasoline which comes from a different source; it does not come from PetroCaribe. We expect that price to go down in step pretty much with the same level, the same extent as the regular gasoline went down two three weeks ago. Beyond that it depends on what the world prices look like; but there’s not an immediate translation of world prices onto our [prices], given the small amounts that we buy in the scheme of things; our importation is a fraction of the world supply. Transportation costs are high, we have to pay for small boats and the per unit cost is much higher.”

 

Reporter

“The price of fuel went down recently; as far as you are aware, is this the lowest it will reach at this time?”

 

Joseph Waight

“Looking at the world [prices], I think we have plateaued. Hopefully it will go down some more but it all depends on what happens internationally; there could be a scare in Iraq or Iran and boom, it goes back up again.”

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1 Response for “Premium Fuel Prices to be Reduced, Stabilized”

  1. asdkjer says:

    BULL !!!
    Guatemalan taxis (the so-called Benque taxi drivers) still running cheaper than Belize taxis here in Cayo district because they come with cheaper fuel from Guatemala. Thanks Mr. San Ignacio mayor for giving Guatemalan driver`s their taxi license.

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