BELIZE CITY, Tues. Jan. 5, 2016–As of midnight on Monday, January 4, 2015, the controlled price for a gallon of diesel was down by 42 cents, with Belize City prices falling from $7.00 a gallon to $6.58.
Prices will vary by municipality, because of varied distribution costs, with the cost for diesel being the highest in Toledo, where it fell from $7.25 to $6.83.
According to a release from the Ministry of Finance, the price fall on diesel was due a reduction in the cost of importing fuel into Belize.
Diesel prices held around $7 to $8 in 2015 but further price falls are expected, due to the continuing dip in world market crude prices.
The Ministry of Finance reiterates that, “…it is the policy of Government to pass on all future reductions in the CIF Prices of fuel products directly to the prices at the pump.”
It also adds that, “…the Government intends to maintain the current level of duties and taxes without change on these products.”
On December 28, the Government introduced higher tax levy on fuel products, gasoline and diesel, with kerosene being the only exemption.
Belizeans living in places like California have also seen prices tumble.