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Advisers warn Cancun gas could reach 20 peso by summer

Cancun, Q.R. — Economic advisers are warning motorists that the price of gasoline will likely reach 20 peso per liter before summer.

Rafael del Moral González, economic adviser out of Merida, says that the price of gasoline, which has slowly already increased 7 percent since the beginning of the year, will exceed 20 peso per liter by July. He says the increase is due to international and national level elements.

He adds that the current electoral process in Mexico also brings an instability, which is why the government is trying to hold the price and implement the rise in the summer.

“The cost of gasoline per liter since the beginning of the year is increasing little by little and there is no indication that it will stop. This affects the consumer because this increase is added to basic living costs.”

On Sunday, the cost of the premium in Cancun closed at 19.20 pesos per liter with magna reaching 17.60 peso and diesel, 18.65 peso. There is no encouraging picture indicating a decline, he noted.

At the beginning of the year, the cost of premium in Cancun was 18 peso per liter, magna at 16.32 and diesel at 17.23 per liter.

Pablo Gutiérrez Laguna, representative of the National Association of Fiscal Specialist, says that the gasoline increases are due to rising international oil costs, noting that Mexico imports magna and premium.

He says the expectation of new fuel increases by summer depends on two factors, that oil indicators continue to rise and that the US dollar gains ground. The July 1 presidential elections also play an important role that could lead to the rise of fuel.