Mexico to report monthly average fuel prices

Mexico's energy regulatory commission (CRE) says it will begin publishing monthly data for gasoline, diesel and kerosene, the regulator said in a statement.

The posting of fuel prices is part of the liberalization of the sector, part of the 2014 energy reform that allows private firms to participate in the retail and import markets, and will give access to first-hand information provided by firms licensed to participate in the market.

Average monthly fuel prices will be calculated based on the reports delivered by operators of service stations.

Since the opening up of the sector, a number of foreign firms have begun participating in the fuel retail sector in Mexico, opening own-branded gas stations in various states. These have included BP, Chevron, ExxonMobil, Glencore and Total, the latter opening first gas station in the upscale Lomas de Chapultepec district of the capital earlier this month.

The information will be published by the 10th day of each month, reporting the average prices for the previous month on a website, and it will also be made available on Gasoapp, an app providing motorists with updated information on the country's service station network which also includes prices in real time, the CRE said.

Mexico expects to see US$4bn in infrastructure investments in the fuel sector over the coming years and plans to more than double fuel storage capacity as new players enter the market.

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