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Feb 29, 2008

Fuel acquisition costs up but no change in pump prices

In other news from Belmopan, the government has announced this week that it would absorb the most recent rise in fuel acquisition costs to keep the pump price the same but today, the world price of oil shot up to one hundred and three dollars a barrel. According to the press release issued this week, the Government is reducing the Revenue Replacement Duty applied on gasoline and diesel to ease the cost to consumers. Acquisition costs only went up three cents a gallon for premium, a cent for regular and twenty-three cents for diesel this time but international experts forecast that if the current rise in world prices continue to escalate, the difference will be much higher in the future. Currently premium is selling at nine-seventy-five a gallon, regular is nine-fifty and the pump price of diesel is eight dollars and ten cents.

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