Mexico fuel price jumps amidst struggling theft control plan
The crisis has been brought on by the action plan of Mexico President Andrés Manuel López Obrador to combat fuel theft. Criminal groups, known as "huachicoleros", have been illegally tapping pipelines leading up to the region, home to more than 20mn residents.
In the meantime, the lack of supply has increased the price of gasoline approximately 50%, reaching at least 32 pesos (US$1.67) in some areas compared to an average price of US$1.00 on January 7.
For now, the government is fully dedicated to fighting against the theft and there has been no sign of changing the strategy. Approximatley 60bn pesos (US$3.14bn) in fuel was stolen last year, according to the president.
Photo: Mexico President Andrés Manuel López Obrador (source: Shutterstock)