Gas Spike in Mexico

Paulina Valerio, Opinion Editor

Recently in Mexico City citizens have begun to protest by blocking car lanes and by burning debri of banners which read “Enough”. There has been a spike in gasoline prices like never before. On December 31 the gasoline price was $2.60 as soon as the new year began the price increased by 14% to about $2.90.

Economist believe that deregulation will soon benefit the economy in the long run;however, the gas price policy did arrive at a wrong time. The world wide oil prices are high right now and inflation is increasing. The holiday season has made it hard for many middle class citizens minimizing their money budget. There has been structural problems with Mexico’s oil refinery leading to fuel shortages at gas stations;moreover, spawning a black market for oil.

Studies show that Mexican and South Africans spend most of their income on gasoline, nearly twice as much as Americans. Mexicans are afraid that other prices will soon increase and make it harder for them to sustain their families. Citizens in Mexico are not payed enough to afford this high spike in the economy.