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Feb 9, 2011

When will the price of fuel go down?

The Barrow administration is now entering its fourth year in office. Prime Minister Barrow today hosted his first quarterly press conference. He discussed a range of issues including one that has the population on edge. While everyone is waiting for the cost of fuel to go down, the price at the pump continues to shoot right up. The most recent increases occurred about a week ago taking diesel to nine dollars and ninety-seven cents; Premium to ten-fifty-two and kerosene to eight dollars and eighty-four cents; while regular remained at ten-twenty-two. In March 2009 a dollar fuel tax was implemented, which at the time the P.M. said would be removed once it had passed the seven dollar mark. The tax has hit home hard and today the P.M. noted that something has to be done about the high fuel costs by the time the new budget is passed in March.

Dean Barrow

Dean Barrow

“The amount we collected in the last calendar year, 2010; sixty-five million, four-twenty-two, nine-eighty-five. In 2005, the then government collected seventy-nine million, five-seventy-nine, eight-ninety-five. In 2006, they collected eighty-five million eight-fifty-six, nine-oh-nine. In 2007, they collected seventy-three million, eight-sixty-eight, one-fifty-five. The point I am trying to make is that the taxes on fuel which consist primarily, though not exclusively, of the import duties—those taxes have been fixed since April of ‘89. Just after we got in, you remember we had done away with R.R.D., introduced a flat tax which later we had had to increase by a dollar. When we had done that, all we collected that year was forty-nine million dollars. After we raised the flat tax by a dollar in April 2009, we left that import duty alone and as I say, when you look at the global collection, it is not as if though the government is raking in any kind of a windfall, what is triggering the increase in pump prices, is the acquisition cost overseas of crude oil and what we then have to pay for the refined product. What we are looking at—and we will not make any move before the budget—because whatever fix we come up with must take account of volatility and must be as permanent a fix as we can possibly get. We are looking at is the GST because that is where in fact what government collects is not fixed because it increases as the overall acquisition costs increase.   There is, I’m being told by the experts, going to be an bit of an administrative nightmare if you have two rates of GST; twelve and a half percent for everything else and a different rate for oil. But it is something that we have to look at. If we go that route again, the trick will be where you fix the GST rate on oil. If we half it for example, we’re going to lose upwards of thirteen million dollars for the year. We can’t be expanding education, we can’t be paying for infrastructure, we can’t be employing all these people, we can’t be paying the super bond without being assured of stable sources of revenue. So it’s a hell of a conundrum, but this government is here to solve conundrums and to fix problems and so something will have to be done at the time of the passing of the new budget.”

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18 Responses for “When will the price of fuel go down?”

  1. rod says:

    you are the conondrum barrow you cant even run the airport much less any thing else please you are embarrasing us belizean people please just resign resign let some one with some kind of intellegence run the country it is now getting to painful to watch someone taking this country into darkness do us at lease one favor please resign .

  2. belizeanpride says:

    why don’t we buy from venezuela since there it’s the cheapest in the world per gallon (refined). instead of buying from the U.S or other countries. if you help us with the price barrow we’ll be able to survive more and more business will start over again but with the high cost, things will go down more than ever which means less revenue for you goverment.

  3. O.Walk ras says:

    Hog wash, thats what he’s talking; the gas prices is just overblown and un-sustainable to the Belizean masses. Why not lower the windfall tax bracket on BNE and start to make some money for Belize?? On some countries who have PROPER LEADERS,gas company take is 40% and government’s share is 60% and some other countries it is 50-50. Why is it that all that Dean can do or think about is tax,tax,tax?? There is no other alternative??
    Presently the truckers contracted by Bella Vista Group to build the Yo Creek-San Lazaro road stopped due to the high price of diesel. Today is them, later it will be somebody else; transportation price will skyrocket along with food price. The cure that HE proposes will too little, too late! Check it out!

  4. SMART THOUGHTS says:

    POLITICS(GOVERNMENT) IS JUST FULL OF IT! EVERYTHING GOING UP EXCEPT OUR PAYS. UDP AND PUP RUNNING A COMPETITION HERE CAN’T YOU GUYS SEE THAT? THEY ALWAYS COMPARE THEMSELVES WITH EACH OTHER. WHAT THE HELL IS THIS OUR COUNTRY IS NOT A GAME ROOM. YOU DEALING WITH REAL PEOPLE, REAL LIVES, REAL TAX MONEY SO START BEING REAL WITH WE BELIZEANS. WE HAVE THE RIGHT TO BRING DOWN ANY GOVERNMENT DOING NONSENSE WITH OUR COUNTRY; YET WE JUST SIT DOWN HERE WITH OUR MOUTHS SHUT AND GET EFF’D. ITS TIME TO EITHER STEPDOWN OR START KEEPING SOME PROMISES YOU MADE TO THE BELIZEAN PEOPLE. IM JUST SAYING

  5. Miz. B says:

    What i have to say about the gas prices? Just another promise Mista Barrow couldn’t fullfill….Hello Sir.! It passed the $10. long time. Didn’t u say you wouldn’t allow that?

  6. Miz. B says:

    Please Mista Barrow…… breaking promises is one thing….. but using foul language infront your nation of kids really sets a nice example!…..was shocking….. seriously…. DOES OUR CULTURE HAVE NO MORALS? Primister of Belize: Father of a convict, promise breaker…MIEN….SAD…

  7. Justice for all says:

    Belizean Pride–We don’t buy fuel from the USA. We get from South America.. For the records, a litre of unleaded gas in the UK is 124.16P per litre or STG1.24 or Bze.$3.864 per litre. To convert litres to gallon multiply by 3.785. The cost of a gallon of unleaded gas in the UK would therefore be Bze$14.63. Think about it!!!!!!OUCH

  8. Fed Up says:

    get used to it. no get used to $12.00

  9. O.Walk ras says:

    To justice for all
    So what if gas price is like that?? Their standard of living is higher than here and they make more money than us. Their gas price is elevated or taxed heavy so as to engourage peole to use public transport or to car pool instead of using ones private vehicle. In Belize we do not have a cheap reliable transport system or a good alternative. So there is way that you can compare us with them and say that our gas price is still LOW!!!

  10. Belizean7 says:

    He promise, the udp said no mata what, we will bring the price down. We don’t care of in the UK it’s cheaper. We just want him to keep his promise, and for you idiots to see how a bareface liar is our P.M all glitter and no substance.

  11. el alcalde says:

    Barrow`s intention is to collapse this nation.
    All business going down, country is on a collapse course!!!
    I will belong to Mexico up here, sorry for you that will end up as Guates.

  12. CEO says:

    The price of oil is not only a Belizean problem. It is a international problem! Barrow does not have any other way to goods and services moving. I am sure that better can be done when it comes to some things but the cost of fuel is not created by him. Cut him some slack on this one. It does not mater where he buys the oil it is the same price.

  13. Disappointed says:

    When will Belize people get some guts and do like Egypt citizens did. It is obvious that politicians could care less what is said because they are Belizeans and they know all Belize people do is talk talk talk and that is as much as they will do, so they fill their pockets and their family and friends pocket and to hell with the citizenry. Their attitude is let them talk that’s all they will do and who cares. Belize people stop being so lazy and stand up and fight when will you get up off your behinds and do something about this corruption.

  14. paying for fuel says:

    barrow and government vehicles don’t pay fuel. we do.

  15. citrus picker says:

    Mr. Barrow, those numbers you readout about 2005 and so on is exactly what the Belizean people are asking you to do. In 2006 the cost per gallon of gas was 6.00 so the government was able to collect the taxes that they did. Now that the price is 10.00 the Belizean people are asking you to cut back because the cost is higher. This is simple math Mr. Barrow, I cannot see how you cannot see that. Life is harder now and the tax is exponential, meaning that the higher fuel gets the more taxes you will collect. You are in office three years and you are still blaming the PUP, If you cannot run this country then just ship out. That is why your government will be a one term set of hooligans!!!

  16. citrus picker says:

    CEO, Don’t be an a$$. The price of fuel in belize is at the very least 40% taxes, the 1.00 tax and GST is already 22.5% and you know perfectly well that GST is not 12.5% of the price at the pump. We know our country is run by taxes but the government must know when they are taking too much. If Mr Barrow lift the 1.00 per gallon tax he will still be getting at least 30% in taxes. I am just saying!!

  17. eightoften says:

    I dont understand Belizean and most third world mentality. We like Big Government to get handouts and free healthcare etc etc, yet we dont want to pay high taxes. Where do you think the money for “free, free free” is going to come from?

  18. Dean says:

    My wife and i will be moving to Belize and retire. I have been in the oil business for 35 years here in Texas. I really hope a refinery is built in Belize very soon , so oil produced from country can be refined & would cut fuel costs drastically.. A small refinery would be very easy , create jobs , & give a much needed boost to the local economy… It can be done safely & environmentally friendly

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