Fuel prices plunge at the pumps

By Marion V. Ali
Staff Reporter

Motorists, as of Monday night, are experiencing a dip in fuel prices.

This is the second drop in oil price since 2009 when the global trend swept prices up from just above $5 to more than $11 per gallon.

Regular gasoline now stands at $7.57, a drop of 80 cents. Premium gas dipped by 79 cents to $8.01; and diesel now sells for $7.22, a 67-cent drop.

The current prices are the result of fierce global competition among oil-producing nations. For the past several months oil prices have plummeted well below US $100 per barrel, dipping by as much as half that figure.

The current price of diesel in Belize is now lower than in Mexico, which produces its own petroleum products. Diesel, however, is normally more expensive than gasolene in Mexico.

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