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Protests greet 20% petrol price hike in Mexico


Mexico

Protests greet 20% petrol price hike in Mexico

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Decades of government-set petrol prices are coming to an end in Mexico, and the first step of that process has seen price rises of more than 20 percent. It has also seen street protests.

Consumers face a more expensive new year with standard grade up by more than 14 percent while the premium grade is up by more than 20 percent. Diesel is up by 16.5 percent.

“Yes, the gasoline issue is a problem. But the problem isn’t that the price is going up. The problem is that for more than 30 years they haven’t built refineries. They steal all the tax money. And this means the country has to import gasoline,” said one man.

“It’s a demonstration of complete rejection of what the government has done. The gasoline issue is the last straw the country needed to further destroy itself,” said one woman.

Through 2017 reforms will create a free market in energy, but inflation, already running at more than the target three percent, will get another boost on top of the effects of November’s peso devaluation.

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