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Diesel Fuel Goes Up by Sixty One Cents

Motorists will not be very happy with the news that the retail cost of diesel is going to increase come midnight. The jump of sixty-one cents means that diesel will sell at eleven dollars and forty-three cents per gallon; taking the cost up from ten dollars and eighty-two cents. It was exactly one week ago that premium fuel jumped by thirty-five cents, taking the per-gallon cost to twelve dollars and eleven cents. Currently, regular fuel sells at eleven dollars and eighty-two cents per gallon while kerosene is at seven dollars and sixty-nine cents. Comparing where gas prices were at this time last year, we refer to the Government’s announcement of October 22, 2020, when premium was at nine dollars twenty cents, regular was at eight dollars eighty-six cents, diesel sold at eight dollars thirty-three cents and kerosene had just fallen that day to four dollars and seventy-three cents per gallon. An announcement would then follow on November 5, 2020 where diesel would fall to seven dollars and ninety-four cent per gallon. Using the October 2020 figures, premium has increased by two dollars and ninety-one cents in about a year’s time. Kerosene and regular gas also increased by two dollars and ninety-six cents while diesel has seen an uptick of three dollars and ten cents compared to last year. As per normal, the Ministry of Finance says the frequent price changes reflect the current demand and supply conditions of crude oil in the international petroleum market and fluctuations in the acquisition price of refined fuel products in the countries from which Belize obtains its supplies.