Rising Fuel Prices Strain Mexican Consumers

Fuel prices in Mexico are soaring, significantly impacting consumer spending during January's inflation period. The price of Premium gasoline reached a national high of 29.09 pesos, straining transport costs and prompting government intervention to address rising prices.


Rising Fuel Prices Strain Mexican Consumers

The price of fuel is worrying Mexicans and worsening the January slump, as recent increases are expected to surpass the record levels reported in January 2024. Premium gasoline reached a high of 29.09 pesos nationwide, while diesel is close to 30 pesos, standing at 29.89 pesos, according to the municipal monitor of PetroIntelligence.

The head of the Federal Consumer Protection Agency (Profeco), César Iván Escalante Ruiz, informed that the prices monitored at gas stations show an upward trend that directly impacts transporters, generating pressure on costs of transporting goods and passengers. For low-octane gasoline, known as Magna, the highest price nationwide is 26.49 pesos.

Despite Profeco's strategy of placing banners to alert consumers about high prices at gas stations, the increases have not stopped nationwide. The upward trend in fuel prices affects the pockets of citizens during a time like the January slump, when annual payments for taxes and services are made, as well as facing debts incurred at the end of the year.

Escalante announced that they will meet with gas station owners to discuss the issue of high prices, assuring that there is no reason to sell gasoline at such a high price. Consumers are urged to send photographs of gas stations with extremely high prices so that Profeco can investigate.

On the other hand, the highest prices are found in states such as Baja California Sur, Guanajuato, Jalisco, Quintana Roo, and the State of Mexico, reflecting that the high cost of fuels is widespread throughout the country.