The high prices of gasoline have not discouraged its purchase in Mexico. Fuel consumption has already exceeded the levels seen during the last two years, since the COVID-19 pandemic had its first effects on the economy, and even exceeded the sales dynamics seen during 2019, according to official data.
The latest records from the Ministry of Energy indicate that the sale of gasoline during the first two weeks of June is already above previous years, resuming the upward rhythm that was reversed during the pandemic.
The sales of Pemex and private companies added up during June – taking into account the first two weeks – an average of 876,000 barrels per day of regular and premium gasoline. The figure implies an increase of 17% compared to last year and 8.5% compared to 2019 .
The official data reflects the sales of the state-owned Pemex and the volume of gasoline imports from private companies that participate in the market.
The May records reflect a similar dynamic, with sales volumes higher than in previous years or at least since 2015, the latest data reported by the Ministry of Energy.
Gasoline consumption has increased despite the fact that the international price of the molecule has broken records in recent weeks , as part of a rebound effect from changes in supply and demand patterns during the pandemic, which led prices to its lowest historical levels, to which were added the changes in the market resulting from the war between Russia and Ukraine.
This record rise in the international price has directly impacted the domestic market, which has registered a similar dynamic, despite the efforts of the federal government to maintain a double fiscal stimulus to stop the rise in consumer prices and its impact on the population. .
Gasoline in the country broke a new record in its price a few days ago. Regular fuel was sold on average at 21.84 pesos per liter last Wednesday, the highest level on record, according to data from the consulting firm Petrointelligence. The same thing happened with premium gasoline , which that day reached 21.89 pesos per liter .
Analysts explain that the measures to apply fiscal stimuli –which have been applied in the country, in a similar way to some European and Latin American nations– have contributed to gasoline consumption continuing with an upward streak instead of stopping the consumption rate.
Official data shows that, until now, there is no change in the purchasing behavior of premium and regular gasoline . Mexicans have not modified their consumption to reduce the effect on their income.
