The Energy Regulatory Commission (CRE) reported average gasoline prices in Mexico during October 2018. The upward trend continues, and this behavior may not change in coming months. The Secretary of Finance (SHPC) made an adjustment to the Special Tax on Products and Services (IEPS) of gasoline, creating a discussion in the country.
Pemex has reported poor operational metrics in the refining sector, especially in fuel production. The NOC’s revenues had reported a good performance, thanks to the increase in prices, but the trend is changing.
The Pemex refining crisis is affecting several sectors in Mexico and the company has not yet announced a strategy to solve it in the short term. The jet fuel market is increasing is dependence on imports due to Pemex ‘s lack of capacity to serve local demand.
Andres Manuel Lopez Obrador (AMLO) will receive the National Refining System (SNR) with the challenge of overcoming one of the most serious crises in its history. Pemex reported its production metrics during September and Carlos Treviño, CEO of Pemex, spoke about the situation in this sector.
Roberto Diaz, president of Mexico’s Fuel Retailers (Onexpo), spoke about the increasing number of gas stations that have associated with new players that have arrived in the country. The development of these and more stories in our periodic Retail summary.
Pemex has been analyzing the possibility of importing light crude since June this year, creating several discussions in Mexico. However, this goes beyond political or nationalist issues, as the NOC has less and less light crude to send to the National Refining System (SNR).