No More Pemex?

Mexican gas station

Starting in 2017, foreign gas companies will be allowed to sell their gas in Mexico, which will break Pemex’s decades-long government monopoly on gas. (Mexico kicked out foreign oil companies in 1938.) Naturally, The Wall Street Journal puts a positive spin on this development and argues that it will be good for Pemex and good for Mexico. Meanwhile, in an opinion piece for Aljazeera, John Ackerman alleges that the change in policy is a Faustian bargain with the Obama administration. […]

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Mexico Gas Price Update

The price of fuel in Mexico has increased as follows: Magna, up 8.2% to 8.44 pesos/liter = $2.51 per gallon (peso at 12.72 per U.S. dollar on 14 August 2010) Premium, up 3.9% to 9.94 pesos/liter = $2.96 per gallon Diesel, up 7.8% to 8.80 pesos/liter = $2.62 per gallon To calculate fuel prices I used the following formula: divide 3.785 (liters) by today’s peso exchange rate (example: 12.72) and multiply this by the current price-per-liter (example: 8.44 pesos for […]

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