No country is going to be able to escape from the increase in gasoline. Neither Europe, nor the United States, nor Japan, nor Mexico, nor Argentina. Neither. It is that the war in Ukraine is raising the barrel of oil to historical prices and the pressure on the sale value of fuel is unsustainable.
Will gasoline increase? How much can a liter reach? This will depend on the scheme that each country has for fuel prices.
In the case of those who have a direct system, the increases will be immediate.
In countries where there are regulations by the State, it is likely that subsidies for oil companies will be strengthened with the idea of avoiding a strong impact on prices.
But what is inevitable is that they will increase, because the price of crude, depending on the country, represents between 30 percent and 50 percent of the value of gasoline at points of sale.
Futures of the WTI (West Texas Intermediate) variety, which is the one used as a reference in the United States and the rest of North America, were sold on the London Stock Exchange this Wednesday, March 2, at 112 dollars, to then settle at 110, a value not reached since March 2011.
Brent, meanwhile, is trading at $110, a price not seen for more than a decade. This variety is the most used of reference in Europe and the countries of South America.
Although President Andrés Manuel López Obrador promised not to raise fuel prices in Mexico, the increase in the IEPS tax, to which must be added the very high international prices of crude oil due to the war in Ukraine, have caused fuels to be at its highest levels in history.
Price of gasoline in Mexico due to the impact of oil
In Mexico, according to data from the Energy Regulatory Commission on Wednesday, regular gasoline has an average price per liter of 21.66 pesos, premium gasoline costs an average of 23.84 pesos per liter and diesel, 22. 76 pesos.
Oil rises even with the announcement of the International Energy Agency that authorized the injection into the market of 65 million barrels of the reserves of the member countries to try to stabilize the price.
The measure, taken by the 30 countries that make up the IEA, seeks to “send a clear signal to the oil markets that there will be no supply shortages due to Russia’s invasion of Ukraine,” says the agency’s official statement.
Obviously he has not achieved his goal.
Read more:
Conflict in Ukraine raises the price of gasoline in the world (in Mexico too)
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