Mexico's government said it will slightly lower gasoline and diesel prices after a 1 January price hike spurred massive protests.
Maximum prices, set by the finance secretary, will drop by 0.02 pesos/l to 15.97 pesos per litre of 87-octane gasoline, 17.77 pesos/l for 93-octane premium and 17.03/l for diesel, effective tomorrow.
The new prices would be valid over the weekend, with the next update scheduled for early next week, according to the Mexican finance ministry. After that maximum fuel prices will be updated daily.
Mexico on 3 February delayed a plan to change prices until today after 1 January price increases of up to 20pc sparked widespread protests.
The demonstrations turned violent at times, with attacks on Pemex installations and retail outlets. The price adjustments are just one pillar of a 2014 package of energy reforms that is opening up Mexico's oil industry.
Today, protesters blocked a Pemex storage and distribution terminal in the northern state of Chihuahua. Hundreds of gas stations along Mexico's northern US border, where fuel is cheaper, have shut down temporarily to protest the new measures.
The finance secretary introduced the new fuel pricing formula on 1 January as a transitional system before market-driven prices are implemented throughout the country by the end of 2017.
Earlier this month, the government scrapped two scheduled updates on 4 February and 11 February, lowering a fuel tax to prevent further price hikes.
The finance secretary then said it would intervene when possible to limit significant price increases in the future.
