They Adjusted the Percentage. The Dollar Amount?

The Belize Chamber of Commerce & Industry (BCCI) has written to Prime Minister and Minister of Finance John Briceño twice in recent weeks, urging the government to be more transparent about how fuel pump prices are determined, and to take concrete steps to ease the burden on consumers and businesses.

In its first letter, dated 21 April 2026, the Chamber requested a clear explanation of the pricing framework behind domestic pump prices, including the role of excise taxes, General Sales Tax (GST), environmental levies, commercial margins, and landed cost considerations. It also called on the Ministry of Finance to resume publishing detailed fuel price structure schedules.

“The Chamber would appreciate a technical explanation of any existing fuel price stabilization measures or mechanisms presently in operation, including how such measures are triggered, administered, or reflected in final pump prices. Improved transparency in these areas would assist the Chamber in more effectively informing its membership, engaging constructively in public policy discussions, and helping the wider public make informed decisions based on accurate information,” wrote BCCI President Giacomo Sanchez.

The government resumed publishing fuel price composition schedules, which the Chamber welcomed in a 27 May 2026 follow-up letter, but stressed that fuel prices remain a major concern for businesses, households, and the wider economy.

A central concern raised in the May letter is what the Chamber describes as a mismatch between movements in global oil prices and what consumers actually pay at the pump. While the percentage tax burden on fuel has been reduced in recent periods, the BCCI noted that excise duties in absolute dollar terms have remained relatively stable, meaning that when international prices fall, the savings are not fully passed on to Belizean consumers and businesses.

This dynamic, the Chamber argues, has kept transportation and energy costs elevated, contributing to inflationary pressures and higher operating expenses across sectors.

The BCCI is urging the government to consider short-term measures to cushion the productive sector and the wider public, specifically suggesting a temporary reduction in applicable excise duties or other targeted fiscal interventions that would allow more of any international price relief to flow through to the pump.