Mexico fuel prices to begin gradual liberalization at end March

A staggered fuel price liberalization in Mexico will begin at the end of March, the head of the country's energy regulatory commission (CRE) said on Wednesday.

Guillermo Garcia, president of the commission, told a news conference market prices for gasoline and diesel will be rolled out gradually by regions, beginning with the northwestern states of Baja California and Sonora on March 30.

In addition, the commission claims that the liberalization of fuel prices in the country can generate an investment of around 16 billion dollars in logistics infrastructure, new gas stations, and boost competitiveness in the sector.