Gasoline Prices Expected to Rise by as Much as 20 Percent in January Gabriel Stargardter and Veronica Gomez - Reuters
go to original December 28, 2016

Cheaper gas prices in Mexico? Sorry to disappoint. (El Daily Post)

Mexican gasoline prices will rise by as much as 20.1 percent next month compared to the highest recorded prices in December, the government said on Tuesday, as part of a program to end years of government-set prices at the pump.

In a statement, the finance ministry said the widely used Magna gasoline brand will rise 14.2 percent and will sell at an average price of 15.99 pesos (78 cents) per liter at retail, while Premium fuel will go up 20.1 percent to an average of 17.79 pesos per liter. Diesel will rise 16.5 percent, with an average price of 17.05 pesos per liter.

The ministry's price ceilings will be in effect through Feb. 3. After that, the maximum price will be set bi-weekly, until Feb. 18, when it will be set daily.

"It's an important change," Finance Minister Jose Antonio Meade said in a local radio interview. "It's a change that will allow prices to reflect costs, and avoid artificial distortions."

Earlier this month, the energy regulatory commission said a staggered fuel price liberalization will begin at the end of March and extend through the rest of 2017.

Read the rest at Reuters

Related: Shortage of Gasoline in Mexico Worsens while Pemex Downplays “Delay” (PanAm Post)

Related: Gasoline Shortages Could Get Worse: Pemex Unable to Resolve Supply Issues; Panic Buying Also Blamed (Mexico News Daily)

Related: Mexico Unveils Transitional Fuel Price System (Argus)

We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!