Mexico to keep fuel prices stable despite Saudi attacks

Mexico’s government will uphold its pledge to keep fuel prices stable and has gasoline supplies secured despite attacks on Saudi oil sites, President Andres Manuel Lopez Obrador said on Tuesday.

Lopez Obrador told a regular news conference that officials from the finance ministry and state oil company Petroleos Mexicanos (Pemex) would meet on Tuesday.

The president said oil-producing Mexico benefited from higher oil prices but was also exposed to market fluctuations because it imported gasoline and diesel.

“We need to see how this equilibrium is,” Lopez Obrador told reporters.

“We have gasoline supplies secured without any problem, due to imports, and because the refining capacity of Pemex’s plants has increased.”