Belize has 5th highest gas prices in Caribbean

By Alexis R. Milan
Staff Reporter

Belize made the list of the top five Caribbean countries where gas is most expensive, ranking at fifth place among 15 countries on that list, compiled with data from the Caribbean Statistics and Data Services institute.

According to the report, Belize has one of the highest per capita gasoline consumption rates in the Caribbean Community (CARICOM) and fuel imports equalled 15.22 percent of its merchandise imports in 2013. The repot notes that Belize’s energy generation mix includes heavy fuel oil (HFO) and bagasse, the sugar-cane bi-product.

The report also noted that Belize recently signed on to an initiative with The Carbon War Room, an anti-carbon group, in the 10 Island Renewable Challenge, where the country among others is seeking to move away from diesel fuel.
According to Forbes, the Carbon War Room has worked with the World Bank and the US Overseas Private Investment Corporation to earmark $300 million for new renewable energy projects in the region..

Barbados, Suriname, the Bahamas and Antigua and Barbuda make up the top-four most expensive Caribbean countries for gas. Ranking from sixth to 15th, St. Kitts and Nevis, Jamaica, Monsterrat, Haiti, Grenada, St. Lucia, Dominica, St. Vincent and the Grenadines, Guyana and Trinidad and Tobago make up the rest of the list.

According to the report, in 2013 CARICOM’s fuel import bill stood at over US $9 billion. The prices CARICOM citizens pay for fuel are some of the highest in the world, the report said.
Some member governments have taken policy decisions to reduce the tax on petroleum products during spikes to ease the burden on consumers. Suriname and Trinidad and Tobago are the only members with directly subsidized petroleum product prices.

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