The Energy Regulatory Commission (CRE) reported propane prices for December 2018 in the country. These increased substantially last year, causing much dissatisfaction. This metric has been showing a decrease in recent months, but is still high compared to the previous year.
Andres Manuel Lopez Obrador (AMLO) decided to close Pemex pipelines as a strategy to reduce fuel theft in Mexico. This generated fuel shortages around, but Moody’s Investor Service estimates that the benefits for Pemex could be large in terms of revenues.
The refining sector is facing a difficult situation due to Pemex’s operational and financial problems. The NOC reported its fuel production metrics for December 2018, with negative results. Imports continue to win market share.
Mexico started in 2019 with a great debate about the gasoline market. The Mexican Association of Gasoline Businessmen (Amegas) spoke about the alternatives for fuel transport in the country and their costs. In addition, the Mexico’s Fuel Retailers Association (Onexpo) commented on this issue as well.