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Fuel price increases take effect in Belize
 A tanker of fuel that arrived in Belize last week reflects sharp increases in the acquisition cost of gasoline, kerosene and diesel.
In an effort to minimise the increase in pump prices, the government of Belize has announced that it will absorb half of the increase in the cost of gasoline, and to pass the other half on to the price at the pump. Consequently, the new price for premium gasoline will be $9.95 per gallon while the new price for regular will be $9.70.
However, with regard to kerosene and diesel, there is little the Government can do to help absorb the cost increase since the Revenue Replacement Duties on these two items is now zero, having been reduced continuously over the past several months. Consequently, kerosene will increase by $1.18 per gallon -- from $7.69 to $8.87 per gallon -- and diesel will increase by $0.81 per gallon -- from $8.10 to $8.91 per gallon. The new prices came into effect on Sunday, March 23, 2008.
The government has said that it has done everything that is fiscally feasible at this time to absorb as much of the increase in the price of fuels, while monitoring the prices on the world market.
Source: caribbeanNetNews
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