Mexico increases petrol prices

05/01/2017,

The Government raised the maximum prices of petrol by up to some 20 percent on 1 January. Prices of standard and premium grade fuel were increased by 14.2 and 20.1 percent respectively, while the price of diesel was raised by 16.5 percent. Maximum prices are different across the country, depending on the cost to distribute petrol in each area. Prices will undergo bi-weekly adjustments in the first half of February, while from mid-February they will be set on a daily basis. The measure is part of the country’s energy reform, which envisages the liberalization of government-set fuel prices and a gradual move towards market-based prices in all states by the end of 2017.

Country: Mexico