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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle



Rise In Gas Leads to Protest in Mexico

The Mexican government’s recent price deregulation has caused the price of gasoline to rise about twenty percent. It has also sent many citizens to the streets in protest.

Dozens of small protests have popped up all over the country, the Mexican government says that this deregulation was planned. It is just an unfortunate coincidence that it happens to fall along with the rise of oil prices all over the world. The government set the deregulation to put an end to the subsidies that have more benefits for the wealthier citizens.

Since New Year’s Day, when the deregulation officially took effect, many citizens have taken to the sides of highways and even blocked traffic. Some signs read, “Enough already!”. The fear of rising gas prices seems to have scared motorists to the tanks. Many stations are just now stabilizing their gas supplies.

There has also been an increase in fuel thefts which has led to the damage of pipelines. Due to the thefts, the government had to increase the military security by sixty percent. It’s estimated that at least $1.4 billion in fuel products from the pipelines that belong to the oil company Pemex.

In regards to the deregulation, Mexico’s assistant finance secretary Miguel Messmacher commented that, “These things always create bad feelings. That is very clear, and very understandable. It is very clear to us that this is obviously an unpopular measure.”

The deregulation has the potential to allow some investing to take place as well as put an end to domination over oil that has lasted seventy years.

However, the citizens of Mexico still find the deregulation distasteful. One protester commented that, “This will increase the cost of living for all Mexicans. It will make more expensive transportation, basic foodstuffs, food, and it will ultimately hit Mexican families.”

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