If you complain because fuel will increase about ¢ 30 colones per liter in a couple of days, you may understand Mexicans’s fury: they took to the streets of their country to protest against the increase of up to 20.1% in fuel prices.
On Sunday, Mexican authorities approved what Mexicans have called the “gasolinazo”: a sharp rise in oil prices, the biggest in years.
This is an average increase of up to 20.1% in fuel and 16.5% in diesel as part of a policy that would be part of an energy reform enacted by Enrique Peña Nieto in 2015. It aims to open the sector to private investment with the promise that fuel prices would fall again.
the Mexican president had not mentioned anything on the issue and he assured that although he understands his compatriots, the increase is justified because, if not applied, the economy would be very affected:
It is a responsible measure that aims to preserve the stability of the Mexican economy.
Due to the criticism, Finance Secretary José Antonio Meade insisted that “the adjustment” will not have an inflationary impact and he said that pretending to lower prices in just one day was unrealistic.
The announcement of the increases was followed by protests and violence. On January 4th, the Federal Police reported about twenty protests and roadblocks in different parts of the country. In addition, on January 3rd, at night, there were lootings, mainly of appliances, in a supermarket in Mexico City.