‘Fuel Hike No Surprise,’ Says PM Briceño Amid Iran Conflict

Prime Minister John Briceño says Belizeans should not be surprised by the sharp increase in fuel prices, pointing to the ongoing US/Israel war in Iran and its impact on global oil markets.

Speaking to News 5, Briceño said government officials had been closely monitoring rising international prices, particularly after disruptions to the Strait of Hormuz, a critical shipping route that carries roughly twenty percent of the world’s oil supply.

“I think it should be of no surprise to anyone that fuel prices have been increasing. We’ve already noticed that prices are going up in the United States considerably,” the Prime Minister said. “There was this unexpected war in Iran, and they have closed down the Strait of Hormuz where twenty percent of oil supplies pass. So we were expecting this.”

“I think Belizeans have been anticipating that the price of fuel is going to go. We have been anticipating that this is going to happen…like every Belizean in this country have been anticipating that the price is going to.”

Premium gasoline in Belize City rose from $12.53 to $13.76 per gallon (an increase of $1.23). Regular gasoline jumped from $11.77 to $13.02 per gallon (a $1.25 increase). Diesel will remain at $12.05 per gallon for now.

Briceño explained that, at this time, the government is passing the global increase directly to the pump while it continues to monitor the situation.

“Right now, before we can try to do any kind of adjustments, we are passing it onto the pump and we are going to monitor,” he said. “If the prices continue to go up, we will then be forced to reduce these taxes.”

However, he warned that any reduction in fuel taxes would have consequences for government revenue and public services.