Price of gas in Mexico

cgmartine wrote:
The problem is that no one in Mexico, even banks, honor the established rates for exchanging dollars into Pesos. It may be 14 something pesos, but they will give you whatever they feel the market will sustain. We went to Mexico two weeks ago, when the dollar was selling for 14 pesos, but I doubt we ever got above 12.5 pesos in Nogales.

We have been using Banamex ATMs for our cash for the last five weeks. Every time, without exception, the exchange rate we get is within less than a tenth of a peso of the official rate.

Yesterday I got 2,000 pesos, paying a 30.74 peso ATM fee on top of that. Wells Fargo deducted $138.99 from my checking account. That's 14.61 pesos/dollar. Today's exchange rate is 14.66. (Our bank does not charge a foreign currency transaction fee.)

We brought $20 in US currency with us for a three month stay. Why be at the mercy of whatever exchange rate the vendors want to use?

Our experience over the years has been that "cajero automaticos" (ATM) always give the best rate. We see the rate posted in the bank window and then go to the cajero at that bank and find we get a better rate. The rate at retail shops etc. have been at 12.5 for many years. We would never change at "cambios" in either Mexico or the US. I have no idea how the cajeros are set or adjusted but it seems they may be computer connected to the main money rate market. That said - we also never go to stand alone cajeros - only a cajero located at an actual bank give the best rate. Kiosk stand alone cajeros are privately owned with the intention of making money - you will not get the best rate there - and they may even take your card and give you nothing in return. Go to a bank.

The problem is that no one in Mexico, even banks, honor the established rates for exchanging dollars into Pesos. It may be 14 something pesos, but they will give you whatever they feel the market will sustain. We went to Mexico two weeks ago, when the dollar was selling for 14 pesos, but I doubt we ever got above 12.5 pesos in Nogales.

Very few gasolineras do not have 4% built-in "error" in their dispensers. Couple that with the fact you ain't gonna get official exchange rate cash dispensed at cajeros automaticos, your USA bank fee and suddenly all those careful price per gallon computations go up in esmoke. I allow six point five percent vigorish, therefore 106.5% of the dispenser price of combustible. Six point five percent added onto "$3.85 gallon" ain't peanuts.

If it comes out of your bank account to pay for the gas, it's part of the purchase price...

Here's a website with monthly fuel price updates........

http://www.mexicomike.com/database/runner/public/mx_fuel_prices_list.php

So for Canadian, that's approaching $1.20 per litre. Disappointing, but time in Mexico is still worth it.

mexican gas and diesel in MORE expensive than in the states right now.

14 peso a litre about 385 per gallon at the current exchange rate