The Mexican energy regulator Comisión Reguladora de Energía (CRE) has announced that gasoline and diesel prices in three south-eastern states (namely Campeche, Quintana Roo and Yucatan) would be liberalised by the end of November 2017, i.e. one month ahead schedule.
Mexican gasoline and diesel prices will be liberalized countrywide before January 2018, according to a proposal initiated by the CRE and approved by the Mexican Federal Commission of regulatory improvement (Cofemer). Prices were liberalised as of 30 March 2017 in the states of Baja California and Sonora, followed by Chihuahua, Coahuila, Nuevo León, Tamaulipas and in the municipality of Gómez Palacio (Durango) on 15 June 2017 and by the states of Baja California Sur, Sinaloa and the rest of Durango on 30 October November. All the other states will see liberalised prices as of 30 November 2017.
The move will phase out government-set gasoline and diesel prices, a practice which has prevailed in Mexico for decades, and replace them with market prices. The country is speeding up the nationwide liberalization of fuel prices by a month in a bid to kick-start lagging private investment and send a strong signal to the market.
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