Mexico



Very usefull links



PW
Bookstore





News links

AP

AFP

Aljazeera

Dow Jones

Oil price

Reuters

Bloomberg

Views and News
from
Norway

 

 

 

 

Lopez Obrador Mexico president-elect says fuel prices to start falling in 3 yrs

 

 

 

By REUTERS

MEXICO CITY
Petroleumworld 10 06 2018

Mexico's president-elect, leftist Andres Manuel Lopez Obrador, said on Monday that fuel prices would begin to come down in three years, once domestic fuel output starts to rise thanks to refinery improvements and a planned new refinery.

Lopez Obrador, who won by a landslide in the July 1 election and takes office on Dec. 1, said in a press conference after meeting with industry leaders that there would be no sharp rises in fuel prices during the first half of his six-year term, and that they would rise only in line with inflation.

“After three years, by which time we will have fuel production in Mexico - because we're going to rehabilitate the six refineries and build one so we can stop buying fuel abroad - we will have lowered prices,” he said.

Lopez Obrador has long criticized a broad energy sector overhaul pushed through Congress by current President Enrique Pena Nieto, but has toned down attacks in recent months. Pena Nieto's popularity suffered a big hit after a sharp fuel price rise in January 2017.

During the campaign, Lopez Obrador said he would lower fuel prices as soon as he reached power, but later said he would not undertake any “real price” rises. He has also said he wants to build two new refineries but might settle for just one.

Mexico's six refineries, which are owned by state-oil firm Pemex, are operating at 43 percent capacity, while crude production has fallen to 1.9 million barrels per day, well below the 3.4 million bpd reached in 2004.

Mexico also imports 65 percent of its gasoline needs and 60 percent of the diesel consumed in the country.

Lopez Obrador said on Monday that “there won't be any above-inflation rises in gas, diesel and electric power prices.”

He added that “the aim” of his administration is to reach 4 percent growth.

_________________________

Twitter: @petroleumworld1

Petroleumworld.com


Hit your target - Advertise with Us

Reporting by Ana Isabel Martinez, Writing by Gabriel Stargardter Editing by Marguerita Choy from Reuters.

reuters.com 09 10 2018

We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1


November 13 - 15, 2018.

Gubkin University, Moscow
SPE Student Chapter

 

 

 

 

 

 

TOP

Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld ™  / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.