Mexico fuel price up 3 percent, but Peso down

Boaters can expect to pay a little more for a gallon of diesel in Mexico this year than they paid last year, but the exact amount depends on where and when you fill up. On Jan. 1, 2015 the base price for all Pemex (Petroleos Mexicano) fuels was increased by 3 percent across the board, a big change from last year, when weekly increases were limited to a mere 7 centavos per liter. In February, when I surveyed 20 marina fuel docks in Mexico and the United States, some fuel docks in Mexico were selling diesel for as much as $1.09 per gallon more than those in Southern California. There are two reasons for the increase: (1) the U.S. enjoyed a huge but temporary drop in oil prices, reflected at the fuel docks and gas stations; and, (2) in Mexico City, federal legislators planned last summer to stimulate the country’s energy sector by increasing the national base price of all Pemex fuels by 3 percent, according to Mexican Business Net. The increase, which started on Jan. 1, 2015, hoped to offset the past five years worth of price controls that had artificially cut base prices for Pemex fuels, despite wide swings in international...