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Thursday, June 30, 2022

Mexico gas price reform head of schedule

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Gulf stations will make expats feel at home in Mexico starting this July. Photo: Gulf Oil
Gulf stations will make expats feel at home in Mexico starting this July. Photo: Gulf Oil

Mexico’s first non-Pemex gas stations will open in Mexico this July, although none in Yucatán have yet been announced.

The signage will look familiar to expats from north of the border: They will carry the large orange-and-blue Gulf logo.

Historic energy reform finalized in 2014 ended state-owned oil company Pemex’s longstanding monopoly, allowing private companies to establish their own non-Pemex branded gas stations for the first time since the 1930s.

A Gulf Oil International official is on the record as saying that Mexico could speed up the opening of its fuel sector by liberalizing gasoline and diesel prices ahead of its 2018 deadline.

For now, Pemex

So now, as it has been since the 1930s, motorists in Mexico have had no choice besides Pemex, and the country’s 11,400 Pemex franchises have been required by law to buy their fuels from the Mexican oil giant.

Last month, though, Mexico allowed private companies to import fuels for the first time, nine months ahead of schedule.

Gulf Mexico plans to open 100 gas stations this year in Mexico’s 18 biggest cities. The first five will open in July in Mexico City, Guadalajara, Monterrey, Puebla and in the state of Mexico just outside the capital. Within three years, expect to see 2,000 Gulf stations in Mexico.

But for now, drivers are pulling up to Pemex stations only, and the prices are still set by the government.

The price of premium gasoline will increase by 8 centavos in June, while prices for Magna gasoline and diesel will remain unchanged from May prices, according to the Secretariat of Finance and Public Credit (SHCP)

The maximum price of Magna gasoline will be 13.16 pesos per liter, with premium gasoline at 14.03 pesos per liter and diesel at 13.77 pesos per liter.

The maximum prices of gasoline and diesel Magna remain for the sixth consecutive month in the lower levels of the range approved by the Congress.

With information from Reuters

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