Fuel Prices Keep Climbing: How Much Relief Can Government Provide?

Diesel prices remain above $15 a gallon, and Prime Minister John Briceño says the government is reviewing what additional relief it can provide as high fuel costs continue to put pressure on Belizeans.

“As much as I don’t like to admit it but successive governments have depended on the excise tax on the importation of fuel because well it’s easily controlled,” Briceño said.

He said government has already reduced the fuel tax as prices fell and has lost more than $40 million in revenue as a result. “I think we’ve lost, don’t quote me to an exact number, but somewhere around forty plus million dollars,” he said.

Briceño said removing the fuel tax entirely would provide relief, but would also affect funding for education, health and infrastructure.

“If we could do without the tax and then still continue all these social programs that I mentioned today, from education and health and infrastructure development, I would happily get rid of it,” he said.

The government has already provided targeted relief to private bus operators. Cabinet approved a $2-per-gallon fuel subsidy for operators through March 31, 2027.

In his State of the Nation address, Briceño described the rising cost of living as largely imported, saying Belize’s position as a net importer leaves the country exposed to prices beyond its control.

He cited the fuel subsidy, along with other measures including GST exemptions and support for public-sector wages, as steps government has taken to ease the pressure on households.