BELIZE CITY, Thurs. May 11, 2017–Two weeks ago, consumers saw the biggest price spike for regular gasoline since 2017 began, but the price of premium gasoline went the other direction – down from $10.79 to $10.58 on the gallon.

That price reprieve was short-lived. At midnight last night, the price of premium gasoline increased from $10.58 to $11.04 in the City. Prices vary around the country due to added transportation costs.

Whereas the price of regular gasoline did not change last night, the price of diesel did, edging downward by 3 cents on the gallon from $9.38 to $9.35.

Speaking with Amandala this morning, Deputy Financial Secretary Marion Palacio said that this price change is solely due to an increase in acquisition costs – not an additional layer of taxes, as has been suggested in the public domain.

Palacio said that the prices include standard taxes and charges which were already in place before the increase.

Premium gasoline is currently sourced from the US market.

“There are times when the market requires fuel that cannot be sourced from Venezuela, so we get [that fuel] from the US,” Palacio said.