updated: March 1st. 2022 7.30am
A recent review of gas prices from suppliers in Texas USA, points to our gasoline going as high as $14 per gallon in the next 30 days. Channel 1 Belize.com has conducted through research of this information, and the only comfort that some would point to is, ‘it’s worse in Barbados’ where gas has already reached $17 (Bz$ equiv) per gallon for premium. And which comes from the same company.
PUMA Energy Texas
Our recent article on the supply of gasoline to Belize indicates that it all comes from suppliers in Texas, USA. and is approximately 1.4-million gallons per month. (Gas+Diesel+Kerosene combined)
ergo: when gasoline and other fuel prices go up in Belize, it is because the primary supplier raises the price to wholesalers in Belize.
Then, The government of Belize tacs-on 48% Tax; meaning that the acquisition cost of premium gasoline is approximately $8.50 per gallon ($4.25 US$) + 48% TAX.
On January 30th. 2022 Crude Oil price was $87.90 per Barrell on the NY Mercantile Exchange and has only increased to $95.80 today 4pm., which would reflect an increase of approximately 9% or ($7.90)
Additional research indicate that Gasoline Prices in Houston Texas is about $3.05(US$) per gallon
REF: LINK¨C8C ¨C12C
Gasoline is traded on the NY Mercantile Exchange: in what is referred to as a ‘Futures Market’ meaning the sale or purchase made today is for ‘April Delivery’
NOTE: on March 1st. 2022, 7.30am the price of Gasoline was $3.15 (US$) per gallon.
REF: Belizeans Getting Impatient With Highest Fuel Prices, up 40% Since January 2021
Editors Notes : URL REF: Belize’s Energy Consumption 2016 to 2020
Written & Compiled by: channel1Belize.com / digitalBelize,LIVE Staff writer – Monday, January 28th. 2022 – channel1belize@gmail.com