GOB blames Katrina; absorbs half of increase
As a result, the following pump prices for the mentioned fuels will come into effect as of September 24, 2005:
Premium gasoline from $9.45 to $9.84 an increase of $0.39 per US Gallon;
Regular gasoline from $9.16 to $9.53 an increase of $0.37 per US Gallon;
Kerosene from $6.14 to $6.25 an increase of $0.11 per US Gallon; and
Diesel from $7.04 to $7.10 an increase of $0.06 per US Gallon.
Major causes of the increase in prices are recent Hurricane Katrina that left five refineries along the US Gulf Coast idled, and also surging prices in Asia.
The Government of Belize shares the concern of countries worldwide as oil prices continue to rise. The Government continues to monitor the situation closely, and will keep the public apprised of any change.
-Ministry of Finance press release-
(ED. NOTE: On September 2, 2005, three days after Katrina, there was another price hike at the pumps. In Belize City, for example, the price of premium gas surged from $9.07 to $9.45, a total of 38 cents.)