Twelve Mexican states report fuel shortages

At least 12 states in Mexico have indicated they suffer from petrol shortages, local media reported late on Monday.

Worst-hit, authorities in San Luis Potosí said half the retail stations in the state had run out of fuel, with other filling points reporting cues of more than half a kilometre. Other states suffering from petrol shortages include Coahuila, Nuevo Leon, Jalisco, Colima, Aguascalientes, Puebla, Tlaxcala and Chihuahua. Over the weekend, Pemex urged consumers not to make panic purchases, but to no avail.

Mexico is harvesting the sour grapes from an underperforming refining sector, with Pemex refineries allegedly operating at 60% capacity, combined with an expanding economy and record car sales.

Earlier in December, Reuters reported that 1,12 million vehicles had been sold during the first nine months of the year, marking an 18% year-on-year increase. All-time high monthly sales of light vehicles in September – 131,443 units – were accompanied by news of record monthly fuel imports from the US, hitting around 960,000 bpd.

Others have pointed to persistent problems with fuel theft – according to estimates, some 20,000 barrels are stolen on a daily basis, equivalent to losses of USD 4 million per day.