The Mexican government may step back from further gasoline price increases due to popular pressure. The price hikes have become necessary due to production issues. Panjiva data shows these led to a 27% rise in gasoline imports in December vs. November and reached the highest since at least 2012. Diversifying supplies will be a challenge. In 2016 imports other than those from the U.S. were 8% of the total by value, compared to 22% in 2011. Imports by land from the U.S. increased to 43% of the total from 28%. Buying more from overseas will likely cost more, particularly as OPEC cuts produc...
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