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Ministry of Finance says gas prices could soon go down

In response the Ministry of Finance has fired off a statement. The statement reads quote, “the increases in the pump price were not driven by any increase in import duties or excise taxes which are fixed, specific-rate taxes, and which have not changed since the beginning of the Government’s financial year in April 2017.” Government says fuel prices should be moderate in the coming weeks. The release states quote, “In recent negotiations with senior officials from PDVSA (the Venezuelan state-owned suppliers under the Petrocaribe Program), Belize was assured that PDVSA is now in a position to resume deliveries to fully satisfy the requirement of Belize and the prices should moderate beginning with the next shipment of fuel which is expected to arrive in the middle of October 2017. While it is too early to say precisely the extent of the expected price reduction, the GOB is confident that prices will be moderate in the weeks ahead.” End of quote.