Gas Hikes Take Toll on Economy Yvonne Reyes Campos - The News | |
go to original March 14, 2012 |
MEXICO CITY – Institutional Revolutionary Party (PRI) Deputy Arturo Zamora Jiménez said this week that during President Felipe Calderón’s administration gas prices in Mexico have been raised 86 times, provoking sharp and sustained increases in the price of basic necessities.
After the 10-peso per liter barrier was broken, he warned, there could be a consequent jump in the price of goods and other services, such us transport.
Zamora said that the worst part of the situation is that increases in the cost of basic goods resulting from higher gas prices have curbed development in some regions of the country; which is aggravated by the lack of an effective oversight system for the distribution of federal resources resulting from fossil fuel sales. “It is unfortunate, with the increase of poverty in this country over the last five years, that the policy of raising the price of fossil fuels is still in force,” he said.
When gas prices exceed 10 pesos per liter, he said, Mexico will be one of the most expensive places in the world to buy gas, except for the U.S.
Zamora added that on Dec. 1, 2006, when Calderón began his term, the price of diesel was 5.70 pesos per liter; on March 10, 2012, it was 10.36 per liter, an increase of 81.75 percent.
In related news, the Senate requested that the Secretariat of the Economy (SE) provide a detailed report on its activities in the supervision and prevention of price-gouging practices for staple foods. Severe drought and frosts have caused the price of basic necessities to climb.
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