Back

LatinNews Daily - 15 August 2022

In brief: New reduction to fuel subsidies in Mexico

* Mexico’s government has announced further reductions in state subsidies for both high octane (premium) and low octane (standard) gasoline for the period 13-19 August. For standard petrol, the subsidy stands at 94.12% (down from 100%) and for premium petrol, the subsidy stands at 72.34% down from 92.23% of the subsidy announced earlier this month. The 100% subsidy for diesel remains in place. This marks a shift in policy from President Andrés Manuel López Obrador, who on 17 June promised to guarantee the subsidy for the whole year. The change comes as part of a wider package aimed at curbing Mexico’s increasing inflation which reached an annual rate of 8.15% in July, well beyond the central bank’s target range of 3% +/-1.

End of preview - This article contains approximately 126 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

LatinNews
Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
Contact
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.