Diesel Prices Set to Surge by 20 Percent as Global Oil Tensions Rise

The cost of diesel is set to spike sharply at midnight with its new price being fourteen dollars and fifty-five cents per gallon.  Authorities have confirmed that the pump price per gallon of diesel will increase by two dollars and fifty cents, representing roughly a twenty percent jump. This latest adjustment comes just days after an increase in the prices of both premium and regular gasoline on March 13.  With tonight’s adjustment, diesel will see a significant spike, placing added pressure on transportation, agriculture, and other sectors heavily reliant on the fuel.  The increase is being attributed to rapidly rising global oil prices, linked to escalating tensions and ongoing conflict in Iran. That situation has triggered volatility in international energy markets, with small, import-dependent countries like Belize feeling the impact almost immediately.  At present, fuel prices in Belize stand at twelve dollars and five cents per gallon for diesel, thirteen dollars and two cents for regular gasoline, and thirteen dollars and seventy-six cents for premium.