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When will Fuel Prices Decrease?

Earlier this year the Briceno Administration created a fuel contingency fund. The fund was created when the government began subsidizing fuel for the public, capping regular and diesel fuels. At that time, Prime Minister John Briceno explained that when world fuel prices begin to fall, Belizeans would not see an immediate decrease in prices here because monies lost would first need to be recovered. We asked PM Briceno for an update. 

Reporter: Has the fuel contingency fund been replenished and when will Belizeans see a drop in fuel prices? 

John Briceño, Prime Minister: “Well I can’t answer you that right now because it has not been replenished. We’ve already lost over $20 million so we have to find a way how you could address this and see how we could find a balance in trying to give relief to people but at the same time, we have to collect the taxes. That’s the only way we could give the overtime to the nurses and to pay the teachers and everybody and try to fix the broken infrastructure that we inherited.”