Fuel Price Increasing Cause Protests in Mexico

Ngebray.com,- Scuffles erupted Wednesday in Mexico City as protesters demonstrated against and increase in gasoline prices. Fuel prices have risen 20% as the government ended regulated prices, and may rise an additional 15% this year due to higher oil prices and a weak peso. The election of Donald Trump, who has critisized trade agreements and pledged to crack down on immigration, is having an influence on the Mexican economy. Trump said, “New Hampshire has lost 31% of the manufacturing job since NAFTA. NAFTA is a 22 years old agreement.. since Bill Clinton signed NAFTA”.

Picture from telesurtv.net

Picture from telesurtv.net

Mexico’s currency tumbled to record lows on Wednesday as Ford announced it had canceled plans for a new plant in the country after criticism from Trump. The plunging peso has sparked inflation. Analysts say that Mexico could suffer sever repercussions from any deterioration in its relations with the U.S.

Residents steal gasoline and diesel from a gas station in Allende, southern Veracuz State, Mexico Tuesday. Photograph: Erick Herrera/AP

Residents steal gasoline and diesel from a gas station in Allende, southern Veracuz State, Mexico Tuesday. Photograph: Erick Herrera/AP