Belmopan- The Ministry of Finance says that they hope that fuel prices will soon move lower, after a recent hike in the price of Diesel Fuel. The price of Diesel Oil last week went from from $10.63 to $10.97 per US Gallon in Belize City. The pump prices for diesel oil in the districts are slightly higher than that, due to internal freight charges.
The Ministry also said there would be no changes in the pump prices of gasoline and kerosene.
According to the Ministry, the increase in the price of Diesel is due to a lagged effect on domestic prices from the recent spike in the world oil prices.
In recent days however, world oil prices have begun to trend downwards, and the Ministry stated they are certain that the next shipment of fuel products, which is due toward the end of next week, will result in markedly lower prices at the pump.
The Government of Belize (GOB) continues to work with PUMA and with all local suppliers, wholesalers and retailers, to ensure that in future any potential price increases are kept to a bare minimum, and that any world oil price decreases are passed through to the local market as quickly as possible.