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Thursday, June 24, 2021
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Home Uncategorized Biggest price spike since 2017 began, pushes tab for regular gas to...

Biggest price spike since 2017 began, pushes tab for regular gas to double-digit figures

BELIZE CITY, Thurs. Apr. 27, 2017–For several months, Belize City consumers have been able to buy a gallon of regular gas for under $10, but that changed after Tuesday night, when new pump prices took effect, less than a month after higher tax levies at the pumps triggered the largest price spike since the year began.

However, our review of the figures indicates that this most recent price spike represents the single largest price increase, at least since 2017 began, with the price of regular gasoline up by 47 cents per gallon, compounding the 32 cents increase implemented on April 1, which included a 25-cent increase to bolster Government revenues.

Pump prices have been fluctuating since the year began, beginning with a fall in the price of regular gasoline of 34 cents on January 25. Prices hit a trough of $9.47 a gallon on March 24, just before the new budget year began.

The Government, which controls pump prices, has not issued any statement to explain the last increase in the price of gasoline.

Gas stations away from the City charge more, due to transportation costs to get fuel from the commercial capital to their respective locations. These charges are the most onerous in the southernmost jurisdiction of Punta Gorda.

At midnight on Tuesday, the price of diesel increased in the City from $9.09 to $9.38; however, the price of premium gasoline was notably down from $10.79 a gallon to $10.58 a gallon, reducing the price differential between regular and premium gasoline from $1.00 to 32 cents.

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