Prime Minister John Briceño has addressed the nation regarding substantial increases in fuel prices, characterizing the development as an inevitable consequence of global market turbulence triggered by Middle Eastern conflicts. The government confirmed premium gasoline in Belize City has risen by $1.23 to $13.76 per gallon, while regular gasoline increased by $1.25 to $13.02 per gallon. Diesel prices remain temporarily unchanged at $12.05 per gallon.
Briceño specifically cited the ongoing US/Israel military engagement in Iran and the subsequent closure of the Strait of Hormuz—a critical maritime passage handling approximately twenty percent of global oil shipments—as primary drivers behind the price adjustments. The Prime Minister noted that administration officials had been tracking international price escalations for weeks following supply route disruptions.
In his statements to News 5, Briceño emphasized that the government is currently transferring the full impact of global market increases to consumers while continuously evaluating the situation. He indicated authorities would consider reducing fuel taxes if prices continue their upward trajectory, though he cautioned such measures would inevitably affect government revenue streams and potentially impact public service funding.
The Prime Minister concluded that Belizean citizens had demonstrated awareness of the impending increases, showing understanding of the external factors influencing domestic fuel pricing structures.