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Mexico

Banxico Endorses Rise in Gas Prices

Carstens believes that the change of the gasoline prices will soon translate into growth for the energy market and more options for the consumer

Facade of Banxico, photo: Cuartoscuro/Moisés Pablo
8 months ago

Head of Mexico’s Central Bank (Banxico) Agustín Carstens made a statement in support of the rise in gasoline prices.

“With regards to the rise in gasoline prices, I would like to reiterate that Banxico and I, in particular, believe that it is an appropriate action, part of structural reforms, and something that has been under consideration for decades,” he said.

Carstens believes that the change of the gasoline prices will soon translate into growth for the energy market and ultimately, more options for the consumer. However, he also admitted that in 2017, Banxico will have to be attentive to the price changes in order to avoid adverse effects to the economy.

Carstens underscored that despite the social discontent, the decision to open the gasoline market is an important and necessary one.

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