Argus launches market report bringing greater transparency to Mexico’s refined products sector
Argus Mexico Fuel Markets will provide subscribers with a unique look into Mexico’s fast-changing refined products market. The report will initially provide subscribers with delivered prices for gasoline, diesel, blendstocks and LPG, along with news and analysis.
“Mexico is a rapidly changing energy environment that international and domestic suppliers need to understand,” Argus Media chairman and chief executive Adrian Binks said. “Argus is proud to be able to bring transparency and offer insight into the Mexican refined oil products sector at a vital stage in the liberalisation of its domestic markets.”
The commodity prices, news and analysis published in Argus Mexico Fuel Markets will serve as a valuable reference point for global energy companies seeking to understand Mexico’s refined products market, which is being restructured as a result of sweeping energy reforms signed by President Enrique Peña Nieto in 2013. The reforms revoked the long-held monopoly of state-owned oil company Pemex and for the first time introduced price liberalisation and private competition in all facets of Mexico’s energy industry.
Argus is launching Argus Mexico Fuel Markets ahead of a key milestone in Mexico’s retail motor fuel sector: the government is expected to begin removing caps on retail gasoline and diesel prices on 30 March, allowing market forces to set prices.
By law, fuel prices in Mexico must be market driven by 1 January 2018. The government has opted for a gradual, region-by-region liberalisation plan, which will be first introduced in the northwestern states of Sonora and Baja California.