Forum Discussion
briansue
Dec 21, 2015Explorer
I have never understood this and am not asking for a long drawn out explanation. The government owns Pemex. Pemex accounts for somewhere between 35% to 45% of the federal budget. Other hands are in the pies as Chris mentioned. But the price of oil worldwide has dropped hugely this year - we paid $1.95 for diesel in TX and then $3.20 in MX. That is a very big difference. Gas is running about the same margin of difference. Post above mentions $6pesos per liter for gas - we pay $14.20mx for diesel. So what does Mexican crude sell for on the international market compared with the rest of the world? Quick look online shows Mexican crude at $39.49US down more than 50% from a year ago - that is September price - comes to down over $50 per barrel - $88 a year ago. Down from a high of $111.90 in March 2012. But price at the pump stays up. I assume this has to do with the federal budget being based on oil? Guess that is the problem with state run business or utilities. This said - I don't understand why they would open a station in the US where prices at the pump are so much lower. Perhaps this was long term plan and the plan did not account for OPEC?
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=IMX2810004&f=M
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=IMX2810004&f=M
About Bucket List Trips
13,487 PostsLatest Activity: Jan 18, 2025