Mexico suspends fuel subsidies when US drivers cross the border to buy cheap gasoline

Mexico is currently implementing the policy fuel price subsidy to soften the momentum of rising fuel prices in this country.

Discontinuation of support gasoline prices taking place from April 2 to 8 in cities in the border states of Tamaulipas, Nuevo Leon, Coahuila, Chihuahua, Sonora and Baja California, including the city of Tijuana, one of the world’s busiest border crossings. .

Mexico’s Finance Ministry said in a statement that gasoline shortages are ongoing in the region “due to an imbalance between supply and demand.”

According to the Mexican Ministry of Finance: “In the United States, gasoline prices are higher than in Mexico. And so many American citizens have crossed the border (USA – Mexico) to buy and store gasoline.”

Fuel prices have skyrocketed after Russia launched a special military operation in Ukraine. And many people living in the US have been driving across the border to Mexico to buy fuel and gas at a lower price.

Mexico’s petrol price subsidy has been supported by the government of President Andres Manuel Lopez Obrador.

In an interview with Reuters on April 1, Mexico’s Deputy Finance Minister Gabriel Yorio said Mexico plans to use the extra revenue from higher oil prices to subsidize domestic gasoline and diesel prices.

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