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LatinNews Daily - 29 June 2017
In brief: Mexico
The state-owned oil firm, Pemex, has reported that in the first five months of the year it has imported 503,000 barrels of refined petrol a day, 1.5 times the total amount of refined petrol that Pemex produces at its six refineries, and which represents 60% of the domestic petrol fuel demand. According to a Pemex report, the majority of the refined petrol imports come from the US at a price of US$71.36 per barrel, which translates into an average petrol price of M$8.85 (US$0.49) per litre. However, the price of petrol at Pemex pumps in Mexico remains at M$16.24 (US$0.90) per litre due to the high transport, storage, and distribution costs faced by Pemex, and to the level of taxes levied on petrol by the Mexican government.
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