Mexico gasoline prices to rise by 20 percent

Mexican gasoline prices will rise by as much as 20.1 percent next month compared to the highest recorded prices in December, the government said on Tuesday, as part of a program to end years of government-set prices at the pump.

In a statement, the finance ministry said the widely used Magna gasoline brand will rise 14.2 percent and will sell at an average price of 15.99 pesos (78 cents) per liter at retail, while Premium fuel will go up 20.1 percent to an average of 17.79 pesos per liter.

Source: Reuters