BELMOPAN, Wed. Feb. 2, 2022– The Ministry of Finance, through the Government of Belize Press Office, has informed the public of upcoming changes in fuel pump prices, with both premium and regular gasoline prices set to increase. Effective Thursday, February 3, 2022, the pump price of premium gasoline will increase from $12.30 to $12.73 per gallon—an increase of 43 cents. Regular gasoline is set to increase by 18 cents, going from $12.10 to $12.28 per gallon. The prices of kerosene and diesel, however, will remain unchanged at $8.79 and $11.56 per gallon, respectively.

The announcement comes just one week after a previous price increase and less than a week after the United Democratic Party (UDP) called out the Briceño administration on the steadily rising fuel prices, urging the government to commit to keeping gas prices below $10 and to reduce the taxes imposed on fuel.

According to the Government’s press release, they plan to work with the fuel industry to stabilize the pump prices paid by Belizean consumers. The release stated that the increase in gas prices is a reflection of the current demand and supply conditions in the crude oil sector within the international petroleum market as well as fluctuation in acquisition prices in countries from which Belize obtains its fuel supplies.