Government, Industry Seek to Contain Prices as Anger Mounts Over Fuel Hike Roberto Aguilar - Reuters
go to original January 10, 2017

Mounting protests in Mexico over fuel price rise (Al Jazeera English)

Mexico vowed to keep a lid on prices as part of an economic plan set out on Monday to dampen widespread outrage over a major fuel price hike, though it failed to win universal backing among business groups.

Under proposals announced by President Enrique Pena Nieto, business, government and union leaders pledged to keep the price of staple goods stable, cut salaries of senior government officials by 10 percent and encourage capital repatriation.

"We will do everything necessary to make the gasoline adjustment affect families as little as possible," Pena Nieto said, flanked by his cabinet and business leaders.

The move comes after the government hiked gasoline prices by 14 to 20 percent on Jan. 1, sparking protests across Mexico, which is already facing a slumping currency, rising inflation and economic threats from U.S. President-elect Donald Trump.



Demonstrators have blocked roads and gas stations, and looting of shops has led to hundreds of arrests.

The accord presented by the government was thin on details and was not signed by Mexico's main employers' federation Coparmex, which criticized it for lacking clear, measurable targets and metrics to assess progress.

Read the rest at Reuters

Related: A Second Gasoline Price Increase Is Coming in February (The Fulano Forum)

Related: Mexico Drivers Don't Have Access to Gas in Border Towns (KYMA)

Related: Vandalism Sparked by Oil Price Hikes in Mexico Very Worrying (Xinhua)

Related: Leftist Party Says It’ll Fight to Scrap Fuel Price Hikes in Mexico (EFE)

Related: Communist Party of Mexico Blasts Gasoline Price Hike (Fight Back News)

Related: Gasolinazo will Decrease Purchasing Power, Says Mexican Expert (Prensa Latina)

Related: Amid Gas Protests, Mexican President Denies Price Hike Linked to Energy Reforms (CNSNews.com)

Related: Gasolinazo: Mexican President Enrique Peña Nieto's Latest Neoliberal Reforms Have Provoked a Fresh Crisis (teleSUR)

Related: Gas Price Protesters Gather in Solidarity at Mexican Consulate in San Diego (KPBS)

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