The average price of gasoline/diesel around the world is 7.22/6.52
Gasoline prices, Octane-95/Diesel 23-June-2020: Belize Dollars per gallon. However, there is substantial difference in these prices among countries. As a general rule, richer countries have higher prices while poorer countries and the countries that produce and export oil have significantly lower prices. The differences in prices across countries are due to the various taxes and subsidies for gasoline. All countries have access to the same petroleum prices of international markets but then decide to impose different taxes. As a result, the retail price of gasoline/diesel is different. (https://www.globalpetrolprices.com/gasoline_prices/)
*are updated weekly. The data for the remaining countries are updated monthly.
Ed. Note: The UDP has finally sold all its March Premium Fuel. Some of the gas stations will experience losses as now the price has been lowered for a new batch when they still have the old expensive fuel. This new batch nevertheless is still terribly over taxed.
One can see in the chart that really ALL the countries in our region have lower gasoline(better octane fuel) and lower diesel prices than Belize. The UDP government continues their senseless policy of taxing anything that is being consumed even fuel. They collect fuel tax which causes higher product prices which yield them GST bonanzas. This form of taxation kills Belizean entrepreneurship and consumer spending. Bam, the UDP falls into recession and they wonder why? Their roughshod infrastructure projects benefit only Imer and the UDP appetite for cronyism.
With world prices of petroleum dipping under zero cents, we would expect to be paying much lower prices. But not in Belize. Even our supplier Honduras is at the $6 level. Belize cannot be over taxed into recovery. This results in a citizenship that suffers.
COVID-19/June 18 flooding has exposed so much of the UDP’s incompetence and corruption. Only the PUP has the oomph needed to take Belize forward regardless of the UDPs irresponsible scare pronunciations. Their PM’s view is that ONLY Barrow can rule. Yes, only Dean Barrow can rule without sense.
(Price per Gallon in Belize Dollars)