MEXICO CITY Dec 22 Mexican fuel prices are
likely to rise in 2017 due to the impending liberalization of
the market, the chief executive of state oil firm Pemex said on
For years, fuel prices were set by the government in Mexico,
but the energy regulatory commission said on Wednesday a
staggered liberalization of prices will begin at the end of
March and extend through the remainder of 2017.
When asked in an interview on local television if a bank's
projections that fuel prices would rise substantially due to the
liberalization were accurate, Pemex Chief Executive Officer Jose
Antonio Gonzalez Anaya said he did not want to speculate.
However, when asked whether there would be an increase of 3
percent, he said: "No, I think it will be a bit more than that".
Then when asked whether it could be about 15-20 percent, he
answered: "Look, more or less, I wouldn't like to speculate."
Mexico's central bank has already flagged the risk that the
fuel price changes could fan inflation in 2017. Data released on
Thursday showed that consumer prices rose faster in the first
half of December than economists had forecast.
(Reporting by Dave Graham and Veronica Gomez Editing by W