Mexico suspends petrol subsidies as U.S. drivers cross borders for a deal that causes fuel shortages in border cities

Mexico is subsidizing petrol to mitigate price hikes on Saturday, due to shortages as more Americans drive south to fill their tanks, the policy applies to the U.S. border region this week Said not.

The suspension of subsidies from April 2 to 8 will be the border states of Tamaulipas, Nuevo Leon, Coahuila, Chihuahua, Sonora and Baja California, including Tijuana, one of the busiest borders in the world. Targeting cities in.

The Mexican Treasury said in a statement that there was a shortage of gasoline in the region “due to an imbalance between supply and demand.”

“In the United States, gasoline prices are higher than in Mexico, and citizens of that country have cross-border inventories,” the Ministry of Finance said.

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As fuel prices soared after Russia invaded Ukraine, more people in the United States are driving across the border to Mexico in search of lower gas prices.

Mexican subsidies have long been endorsed by President Andres Manuel Lopez Obrador’s government, which has long promised to protect consumers from sharp pump price increases.

In an interview with Reuters on Friday, Deputy Finance Minister Gabriel Yorio said Mexico plans to use additional income from higher oil prices to subsidize domestic gasoline and diesel prices. rice field.

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