By Breaking Belize News Staff (HP): With global oil prices dropping and tensions in the Middle East easing, many Belizean motorists are asking the same question: when will fuel prices finally come down?
Prime Minister John Briceño was asked exactly that this week and made it clear that Belize does not control the international factors that determine fuel costs.
According to the Prime Minister, the answer lies largely with global oil producers, refineries, and international market conditions rather than decisions made in Belmopan.
When questioned about possible relief at the pump, Briceño suggested that attention should be directed toward the companies producing and refining fuel.
The Prime Minister noted that Belize purchases fuel based on international prices and therefore has limited influence over the final cost of imported petroleum products.
Briceño argued that one of the few tools available to the government is taxation. He pointed to previous reductions in fuel-related taxes, saying those measures were intended to help cushion the impact of rising global prices on consumers.
Still, many Belizeans remain frustrated as transportation costs continue to affect household budgets, businesses, farmers, and commuters across the country.
Whether those lower global prices translate into savings at Belizean pumps remains to be seen.
For now, motorists continue to watch fuel prices closely while hoping that declining international oil costs eventually lead to relief at the pump.
The post When will fuel prices fall? PM Briceño says ask the refineries appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Breaking Belize News Staff (HP): With global oil prices dropping and tensions in the Middle East easing, many Belizean motorists are asking the same question: when will fuel prices finally come down? Prime Minister John Briceño was asked exactly that this week and made it clear that Belize does not control the international factors
The post When will fuel prices fall? PM Briceño says ask the refineries appeared first on Belize News and Opinion on www.breakingbelizenews.com.
