Saturday, July 2, 2022

Petrol on the border, cheapest in the country

Mexico provides the cheapest gasoline in the country at the northern border due to subsidies, which have increased the daily crossings of Americans.

This Friday, President Andres Manuel Lopez Obrador He once again acknowledged that the price of gasoline in Mexico is more accessible than in the neighboring country and promised to maintain financial incentives throughout the year.

“Now they’re going to load United States border cities For Mexican cities on the border and we’re not going to stop it, because inflation in the United States is affecting them a lot, especially in energy,” he said in his morning conference call.

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In early April, the president acknowledged that “the subsidies are of great help to both the Mexican population and our compatriots and American users,” and described it as an “act of solidarity.”

out of 32 states tamaulipas Offers the most economical regular or Magna gasoline in the country, with an average price of 19.63 pesos per liter during May. The Chihuahua followed, where it cost 20.23 pesos, according to official figures from the federal government from the Energy Regulatory Commission (CRE).

In other words, 785 pesos and in . need to spend chihuahua, 809 pesos.

Instead, upload to Texas Its average cost was one thousand pesos, while in California it required one thousand 355 pesos, as there is no subsidy in the United States.

Sonora is the fifth state in the country with the cheapest regular gasoline, with a price of 21.18 pesos, and Baja California is ninth, offering the same fuel at 21.28 pesos.

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This week, the former president of National Organization of Petroleum Vendors (OneExpo), Roberto Diaz de Leon announced that the daily crossings of Americans have increased.

“It has been noted that the fiscal stimulus has set a new trend in the border market”, as demand in the northern border strip is highly occupied as US union consumers cross over to take advantage of the gains, as that A gallon of gasoline in the country is more than five dollars, he said in reference to the gas station convention Merida.

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last sunday, service tax administration (SAT) reported that between January and May this year, the cost of subsidies to gasoline consumers is 88 thousand 241 million pesos, which is higher than the initial budget announced for the construction of the Felipe Angels International Airport (AIFA) of 85 thousand million.

These stimuli mitigate the effects of fluctuating international gasoline and diesel prices in Mexico, most of which come from the United States.

Analysts at Citibanamex acknowledge that, unlike other countries, fuel inflation is not a major concern in Mexico because of the government’s subsidy policy, although they estimate the measure will cost 350 billion pesos this year. more than the combined budget. Dos Bocas Refinery And this AIFA.

For Ramsay Gutierrez, According to Franklin Templeton, subsidies should be more targeted if the government wants to support the poorest. However, Oaxaca and Guerrero, which have more than 60% of their population living in poverty, sold a liter of regular gasoline last month for an average of 22.21 and 22.69 pesos; As per CRE data, the latter is the second costliest price in the country.

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At the start of his government, President López Obrador made 100 commitments and the number 28 says: not to increase the price of gasoline beyond inflation, which has become complicated.

December 1, 2018 to May 31, 2022, i.e. during the first 42 months of the self-call fourth change, The average price of regular gasoline rose by 10.4% in the country, while premiums increased by 12.7%, data from Inegi indicated.

Both growth are below inflation, with an accumulated rate of 18.3 per cent over the period.

The cost of fuel nearly doubled during the same period of the government Enrique Pea Nieto, When regular gasoline increased by 19.5% and premium by 22.7% from 1 December 2012 to 31 May 2016.

UBS Chief Economist for Latin America, Fountain’s Raphael, They believed that while there was room for higher gasoline prices, that didn’t mean they broke the promise that they would not be outdone by inflation.

From his point of view, fuel prices may be increased gradually to avoid the perception of a gasoline hit.

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Nation World News Desk
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