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Mexico Abolished The Limit Of Oil Price
Dec 01, 2017

Mexico's "Financier" reported on November 30, the Mexican Ministry of Finance said today, With effect from the day, the maximum price of gasoline and diesel will not be announced any more. The domestic oil prices will be set by each domestic gas station. The Ministry of Finance said that through the current special tax on production and services can curb the rapid rise in oil prices, meanwhile, the liberalization of oil prices have advantage to stabilize the market, allocate resources, stimulate capital influx and enhance the competitiveness of Mexican refined products.At the end of 2016, the Mexican Energy Regulatory Commission (CRE) adopted the "five-step" strategy of oil price liberalization. The abolition of the maximum price of the Ministry of Finance is the fifth step of the strategy, it marked the completely marketization of the refined oil prices in Mexico.


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