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May 20, 2004

Gasoline breaks eight-dollar barrier

It does not exactly come as a shock, since virtually every night on the U.S. news networks we watch as fuel prices climb at the pump. Tomorrow it will be our turn to moan as effective midnight tonight prices will rise by an average of around one percent, or seven cents per gallon. The new prices per U.S. gallon are eight dollars and five cents for premium, seven ninety-one for regular, five fifty-four for diesel, and four ninety-eight for kerosene. A release from government states that the actual increases by Exxon were in fact twice as high, but Belmopan has decided to mitigate the adverse impact by absorbing half the price hike by adjusting taxes downward. With Belize’s prices highly related to movements on the U.S. market, it does not look like there is much relief to be expected in the near future.


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