Fuel Prices

On April third, the prices of fuel went up again. If you have already hit your budget  with all the excess money the last time it went up then this time its worst. Another fuel hike is in the works at midnight tonight which will put the price of premium above the twelve dollar mark and at its highest yet.  The  premium will face a whopping increase of sixty-four cents and consumers will now be paying twelve dollars and thirteen cents per gallon and it will be retailing at twelve dollars and thirteen cents per gallon. According to their  research, even when the barrel of crude stood at one hundred and forty dollars on the international market, premium was selling at eleven dollars and seventeen cents, almost a dollar per gallon less than it will be at midnight. When they checked again, the price for crude is hovering at one hundred and five dollars, which means that we are paying more at the pumps even though crude is far cheaper.  But how high can they go? We do not know the answer to that question but can warn you that regular, will go up by fifty cents, which will put the gallon price at eleven dollars and sixty-seven cents. Diesel will be going up by fifty-five cents to a high of ten dollars and ninety-seven cents and in the case of kerosene, that’s goes up fifty cents, and will be retailing at eight dollars and seventy-seven cents. This changes all budgets.

 Reaction:

All I have to say is that I remember the day it used to cost seven dollars and change.  Why is it so high?  I believe that this effects our whole economy.  As a concerned Belizean I wonder if a vehicle might be to expensive for a family to maintain?  Although it is good for the environment but a little difficult for every bodies schedules is car pooling the way to go?  I know the bus is a good way but that is before.  It’s a fact that goes up and everything else is soon to follow. I am thinking its because of transportation fees.  The reality is too much to bear for a already caving economy.  If this keeps up then people will start to revolt at such high prices. I question how long will it be until we can no longer afford the daily necessities.  I consider myself well of because of family but I cant imagine those who already was barely making it with low salaries.  As an economics student when they check the basket to see if we Belizeans need a raise do they factor in how high the rate of fuel has gone up.  Have they noticed that it is in everyone daily needs even if it is through car pooling, personal vehicle or bus.  It goes up all other prices fallow.  I have first hand seen how a family with two parents and four children live day by day.  How will they do it? Admitting it or not you can say that you depend on transportation and thus fuel.  Distances are now too far to walk and if its walkable will I have to take over 40 minutes to walk to my destination.  Something must be done about this fuel increase.  The next time it increases I will be afraid to see the ripple effect it releases among the public.