Regular and premium gasoline prices in Mexico 2017-2021, by type

In 2021, the average price of regular gasoline in Mexico reached 20.06 Mexican pesos per liter, up from more than 17.97 pesos per liter in the previous year. For premium gasoline, average prices increased from 18.76 pesos to 21.78 pesos per liter in the same period.

What defines the price of gasoline in Mexico?

The North American country is highly dependent on gasoline imports in order to meet its demand. Since 2016, gasoline imports by Pemex – Mexico’s national oil corporation – have averaged at more than 500 thousand barrels per day in a regular year. With the government’s control put to an end in late 2017, prices are since controlled by the market, and in turn strongly affected by global oil prices. Nevertheless, other factors come into play, such as import tariffs, or transport and logistics costs. In fact, prices also vary across Mexico. In 2021, Guerrero was the state with the highest average gasoline price, while Tamaulipas reported the lowest figure.

How does Mexico compare with the rest of Latin America?

At an average of 1.1 U.S. dollars per liter, Mexico had one of the lowest prices in the region as of March 2022. This figure was below the average gasoline price reported in Latin America at the time. The country also ranked among the top tier in the region when it comes to gasoline purchasing power. In 2021, the average Mexican salary could afford approximately 523 liters of gasoline.