Given the increases in the Mexican oil mix, higher oil revenues than those estimated for this year are expected, Rogelio Ramírez de la O himself, head of the Treasury, has explained that for these revenues there will be a ‘cushion’ that is typical of Pemex, and that could help the balance of public finances, given the subsidies that are being given to gasoline.
According to the official, Mexico will maintain a balanced budget while subsidizing gasoline prices at service stations, even if the cost of a barrel of oil rises to $155.
With information from Reuters and Bloomberg.