Opposition Demands Ceiling Fuel Prices as Fuel Cost Spikes

Belizeans are feeling the squeeze again. Fuel prices jumped more than ten percent last week, and that spike is already rippling through household budgets. The jump isn’t random, the increase is tied to rising tensions in the Middle East, where Iran’s clashes have disrupted shipments through the Strait of Hormuz, the narrow chokepoint that carries nearly a fifth of the world’s oil. Global prices shot past a hundred dollars a barrel, U.S. gas prices climbed sharply, and now Belizeans are taking the hit at the pump. But the pressure isn’t just playing out internationally. At home, Opposition Leader Tracy Panton is demanding immediate relief. She’s calling on Prime Minister John Briceño to place a cap on fuel taxes to soften the blow for consumers. Her argument is that soaring gas prices are pushing up costs across every sector, including agriculture, and government can’t stand by. Panton also reminded the PM of his own words, back when he was in opposition, insisting that fuel prices should always stay below ten dollars because of how deeply they affect the economy. Tonight, she’s asking him to live up to that position. Here’s more from the Opposition Leader.

 

Tracy Panton, Leader of the Opposition

 ”You will recall under a UDP administration when gas prices reached ten dollars, he led the charge on the announcing the high increase in his words that was unprecedented. And he made a recommendation that the tax intake from. The fuel at the pumps should be reduced to $2 to make sure that Malaysias would be able to afford fuel at the pump. This situation does not only affect households. It affects the tourism sector. It affects the transportation sector. It. Affects the productive sector. And it is critical in times of uncertainty that we provide. We as a country and as a government, provide the kind of safety net that is required for lesions to make ends meet. He doesn’t have to go far. He can look in the region and take examples from Barbados, or take examples from Antigua and Barbuda of what is being done in temporarily as a temporary measure to ensure that they mitigate the high cost of living for their citizens.”

 

Fuel and Pending Fertilizer Hikes Threaten Food Prices

 

The shock of rising fuel prices isn’t just hitting drivers, it’s hitting our farmers, too. Belize’s agricultural sector is feeling the squeeze, and it’s about to get tighter. Not only is fuel up, but the cost of fertilizer and other key inputs is also set to rise. And we all know what that means: higher production costs that eventually land on the consumer’s plate. Earlier today, News Five spoke with Servulo Baeza, the CEO in the Ministry of Agriculture, about just how tough this moment could get for industry and for the rest of us.

 

On the phone: Servulo Baeza, CEO, Ministry of Agriculture

“As you have seen, the price of fuel has gone up already, and that is a direct result of the conflict in the Middle East. Just like that, I believe that other inputs will follow suit, you know. We’re hoping that not as much, but certainly looking and preparing for it. One of the things that will spike up, because it is directly linked to energy and fuel, is the price of fertilizer. If you look at what happened when the Ukraine and Russia war broke out, one of the things that went up was the price of fertilizer by over a hundred percent. It had stabilized over time, but the likelihood of it going up again because of this conflict right now, is something that will most likely happen. Fuel, for instance, is one of the main inputs that is used. They use it for transportation, they use it for their pumps and to pump water. Fuel is one of the essential ones and so when the price of fuel goes up, it certainly affects the cost of production. And so, when you look at your other inputs, and fertilizer being one of the other main ones, if that goes up, that will also affect the cost of production. So you’ll see that it costs more to produce our products. That will translate to higher prices for the consumers.”

 

Attention readers: This online newscast is a direct transcript of our evening television broadcast. When speakers use Kriol, we have carefully rendered their words using a standard spelling system.

 

Watch the full newscast here: