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Mexico gasoline prices to rise between 14-20% in January

Staff Writer |
The Mexican government said gasoline prices will increase between 14-20 percent in January 2017, an increase forecast by the Pemex state oil company.

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According to the Mexican Secretariat of Finance and Public Credit (SHCP), “these new price ceilings represent increases for Magna and Premium gasolines and diesel fuel of 14.2 percent, 20.1 percent and 16.5 percent, respectively, compared with the maximum prices seen in December 2016.

It also said “the increase reflects the hike in international fuel prices, and that new or different taxes play no part.”

“International prices for Magna and Premium gasoline and for diesel fuel were significantly higher in the last quarter of 2016,” it said.

The secretariat added that “maximum prices will remain in force as long as there is no flexibility in the fuel market of a region.”

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