Absorbing devaluation: Pemex penalized
Journal Article
·
· Energy Detente
OSTI ID:86458
Shock from Mexico`s international finance debacle has created a ripple across the global pond, affecting trading markets from Buenos Aires to Hong Kong. Mexican consumers must cope with a currency that can purchase 40% fewer imported goods than it could seven weeks ago. The Mexican government has taken austerity measures controlling prices on staple consumer items designed to prevent rampant inflation. State oil company Petroleos Mexicanos is left exposed to some of the costs of the peso devaluation to supply Mexican gasoline markets with imported supply. However, Mexico`s flexible tax structure allows Pemex to divert the cost throughout its operations.
- OSTI ID:
- 86458
- Journal Information:
- Energy Detente, Journal Name: Energy Detente Journal Issue: 1 Vol. 16; ISSN EDETDB
- Country of Publication:
- United States
- Language:
- English
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