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Apr 14, 2020

Fuel Prices to Decrease This Week

World oil prices continue to fall, dipping below thirty dollars a barrel.  But despite falling world oil prices, here in Belize, consumers are paying more than ten dollars a gallon. Premium gasoline sells at ten dollars and ninety-two cents while regular and diesel are currently being sold at ten dollars and twenty-three cents and eight dollars and twenty-five cents respectively. Those high prices are expected to decrease substantially says Financial Secretary Joseph Waight.

 

On the Phone: Joseph Waight, Financial Secretary

“We expect, in fact we know that the prices will go down very sharply later this week. But the problem is that we have inventories and inventories have to be first use. Quite frankly there is very little consumption happening at the moment happening at the moment. Gas stations, I heard from Esso and Puma who import that again there are off almost by seventy percent of sales. The fact is that we first need to use out the old, more expensive stock and that would have happen in a few more days I think. And later this week we expect a fairly substantial fall in the price of gasoline.”


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