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).
RELATED: Mexican Drivers Pay More for Gasoline than Americans
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.
RELATED: Mexico Embracing E-mobility, but Headwinds Persist
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.
Recommended Reading
Exxon Mobil, Chevron See Profits Fall in 1Q Earnings
2024-04-26 - Chevron and Exxon Mobil are feeling the pinch of weak energy prices, particularly natural gas, and fuels margins that have cooled in the last year.
TotalEnergies to Invest $400MM in LPG
2024-05-14 - TotalEnergies is investing more than $400 million into LPG to provide more than 100 million people in Africa and Asia access to clean cooking methods by 2030.
Petrobras CEO Prates to Step Down
2024-05-15 - Brazil’s President Luiz Inácio Lula da Silva has requested that Petrobras CEO Jean Paul Prates resign following a dispute over dividend payments.
Uinta Basin: 50% More Oil for Twice the Proppant
2024-03-06 - The higher-intensity completions are costing an average of 35% fewer dollars spent per barrel of oil equivalent of output, Crescent Energy told investors and analysts on March 5.
Canadian Natural Resources Boosting Production in Oil Sands
2024-03-04 - Canadian Natural Resources will increase its quarterly dividend following record production volumes in the quarter.