Government Holds Line on Fuel Prices, Cancels Hikes Mexico News Daily
go to original February 4, 2017

Protesters clashed with riot police in Mexico City, Wednesday, during a rally against a recent hike in gasoline prices, issued by Mexican President Enrique Pena Nieto's government. (Ruptly TV)

The federal Finance Secretariat has chosen to leave fuel prices where they are, canceling increases that were scheduled for both today and next Saturday.

The second planned price hike since January 1 was widely condemned during the past week and threatened to trigger another round of massive protests. Demonstrations against the January 1 increase in gasoline and diesel prices continue still.

Finance officials said they were able to apply subsidies to keep prices unchanged due to the peso’s value against the dollar, higher petroleum prices on the international market and austerity measures implemented by the federal government.

But they probably won’t do so for long.

Read the rest at Mexico News Daily

Related: There Will Be a Second Gas Raise in Northern Mexico No Later Than March 30 (The Fulano Forum)

Related: Mexico State Oil Company Lost $1.5 Billion to Theft in 2016 (InSight Crime)

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