World oil prices are at a two decade low, the price for a barrel of oil has literally crashed.
But pump prices in Belize still aren't moving. So what's up with that? Well, the problem is the old stock. Because of the national shutdown, oil inventory is moving so slowly that the new, cheaper stock cannot get into the system.
But, when it does, for regular fuel at least, the price cut will be substantial, possibly historic. The Financial Secretary has told us that the price of a gallon of regular is going down by more than three dollars - the largest cut he has ever seen. But when? He says most likely by Sunday at midnight. Of course, the price cut comes just when no one can go anywhere much because of the national lockdown.
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