Print Edition - 2017-01-03  |  Money Digest

Mexicans protest gasoline hike


Jan 3, 2017-

Hundreds of irate Mexicans marched in Mexico City on Sunday to protest a steep rise in gasoline prices. They carried signs denouncing President Enrique Pena Nieto, whose government announced last week that the price of gasoline would increase by as much as 20 percent to 0.88 dollars per litre on New Year’s Day, while diesel would rise by 16.5 percent to 0.83 dollars. Pena Nieto has promised that fuel prices will eventually fall thanks to a landmark 2014 energy reform he instituted, which ended a seven-decade-old monopoly held by the state-run firm Pemex. The government plans to end subsidies and let the market dictate prices in March. But Mexicans will feel the pinch at the pump before they start falling. The protesters marched Sun along Mexico City’s Reforma avenue towards the vast central square called the Zocalo.

Published: 03-01-2017 09:03

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