MEXICO.- Yesterday, July 5th, 2014, Mexico's seventh "gasolinazo" this year took place. Gasolinazo is the colloquial term to describe the fuel price hike, but unlike the U.S., these surges are set by the state and occur each month and are known about in advance. Gasolinazos are set to continue until 2015 at which point fuel prices in Mexico should have caught up with the rate of inflation.

Each month this year, gas prices increase by between nine and eleven cents. As of yesterday, Magna fuel (which is the equivalent of regular fuel) costs 12.86 pesos a liter, Premium and Diesel fuel increased 11 cents, and now costs 13.56 and 13.39 pesos respectively, according to the Mexican Association of Gasoline Businesses (AMEGAS).

At this rate, according to CNN, the price of fuel by the close of the year will be 13.31 pesos for regular fuel, 14.11 pesos for premium fuel, and 13.94 pesos for Diesel fuel.

If we were to convert liters to gallons, and calculate this in dollars at the rate of 12.70 pesos per dollar, the average price per gallon is:

Magna (regular): $3.89/gallon

Premium: $4.11/gallon

Diesel: $4.06/gallon

Still, with California gas prices in San Diego, California averaging $4.12/gallon it is still likely cheaper for you to fill your tank up in Mexico.

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Elizabeth.rosales@sandiegored.com

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