Mexicans are Outraged Over a Big Hike in Gas Prices on Jan. 1

1/1/2017 The Washington Post

pemexMexican motorists awoke to a shock as gasoline prices at the pump shot up by more than 20 percent in some corners of the country on the first day of the year, sparking panic buying, street protests and even a call by one prominent lawmaker for a “peaceful revolution.”

“If the price of gasoline goes up, we’re going to pay more [for] everything else,” said Iván Rosales, an employee at a trucking company who protested the price hike Sunday at the iconic Ángel de la Independencia monument in Mexico City.

The hike, the result of the government’s decision to deregulate gas prices, comes as Mexico prepares for an uncertain 2017. The value of the peso has plunged, inflation is rising and U.S. President-elect Donald Trump has promised to rip up NAFTA and slap import duties on Mexican-made goods. Regular gas is scheduled to sell for 15.99 pesos per liter in Mexico City (about $2.85 per gallon), though prices will vary across the country.

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