Some things are cheaper in Mexico compared to the U.S. but gasoline and diesel are clearly the exception.
Mexican drivers are paying an average premium of about 125% for regular and premium gasoline and an average premium of 122% for diesel compared to their American counterparts.
Mexican prices are steeper for a couple of reasons: higher import and logistic costs related to a deficit of domestically-produced gasoline as well as illicit fuel trade, according to state-owned Petróleos Mexicanos (Pemex).
Mexico’s average price of regular gas runs $5.02/gallon and for premium $5.48/gallon, according to data released Aug. 21 by Mexico’s consumer protection agency PROFECO. The average diesel price was $5.32/gallon.
Mexican states with the highest regular gasoline prices include Nuevo León ($5.67/gallon), Durango, Baja California Sur and Guerrero, according to PROFECO.
In the U.S., the average price of a gallon of regular was $3.85 and for premium $4.61/gallon as of Aug. 22, according to the American Automobile Association Inc., or AAA, a federation of affiliated automobile clubs. The average U.S. diesel price was $4.35/gallon.
The U.S. states with the highest regular gasoline price are California ($5.26/gallon), Washington, Hawaii, Oregon and Alaska, according to AAA. That compares to an average price of $3.47/gallon in Texas and $3.41/gallon in Louisiana, where a number of U.S. refineries are located.
2023-11-27 - U.S. natural gas futures fell to a two-month low on Nov. 27, weighed down by record output while mild weather limited heating demand.
2023-11-01 - The Energy Information Administration also reported that gas production in the Lower 48 also set a record.
2023-10-02 - For the upcoming week, Stratas Advisors predicts oil prices will have a downward bias, in part because of concerns about economic growth and oil demand.
2023-09-13 - The extension of OPEC+ and Saudi Arabia production cuts are predicted to make oil and gasoline more expensive.
2023-09-11 - Feedgas flows to Freeport LNG, the second-largest U.S. LNG exporter, dropped sharply over the weekend and remained down for the third day in a row on Sept. 11.