PAN Seeks Gas Price Deregulation


News: Mexican opposition party National Action Party (PAN) wants to deregulate gasoline prices as competition within the industry improves, reports Bloomberg, citing Senator Jorge Luis Lavalle. 'Government involvement served its purpose by gradually removing subsidies to fuel costs, which are at market price, allowing the practice to eventually end,' Lavalle said (Bloomberg.com). In December 2013, Mexico's Congress passed a new law breaking a 75-year state monopoly on oil and gas drilling in December 2013. It is now expected to discuss secondary legislation to implement the law.

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Related sectors of this article: Oil & Gas, Refining/Marketing, Energy Policy
Geography: Mexico