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Business

Messmacher Linartas: Mexico's Gas Still Among World's Cheapest

The treasury undersecretary stressed that notwithstanding recent fuel price hikes, Mexico still has some of the cheapest gasoline in the world

Treasury Undersecretary Miguel Messmacher Linartas speaks on July 19, 2016, photo: Cuartoscuro/Saúl López
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1 year ago

Undersecretary of Revenue for the Treasury and Public Finances Secretariat (SHCP) Miguel Messmacher Linartas noted that notwithstanding recent gasoline price increases, gasoline remains cheaper in Mexico than in much of the rest of the world.

In a meeting Tuesday with Energy Secretary Pedro Joaquín Coldwell, Petróleos Mexicanos (Pemex) director José Antonio González Anaya and Federal Electricity Commission (CFE) director Jaime Francisco Hernández Martínez, Undersecretary Messmacher Linartas clarified that the average price of a liter of gasoline in Mexico is about $0.75, while the global average is about $0.95.

The undersecretary stressed that Mexico also has cheaper gasoline than certain petroleum-producing countries like Canada and Norway.

“Compared with Canada, or with Central American countries such as Coasta Rica, Guatemala, the Dominican Republic, or South American countries like Argentina, Brazil, Chile or Paraguay, Mexico has cheap gasoline,” he said. “Obviously, our gas is much cheaper than European countries that have high taxes on gasoline. For example, Norway is an important petroleum-producing country, but has some of the highest gas prices in the world, around $1.70 per liter.”

The meeting was convened to discuss the recent price hikes of gasoline and electricity.

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