Mexico’s government will open retail gasoline stations controlled by the army if retailers do not decrease fuel prices, President Andres Manuel Lopez Obrador said Tuesday. Register Now CIF Eastern Mexico RBOB gasoline prices have averaged Peso 9.71/liter so far in April, down slightly from the October average of Peso 10.04/l, S&P Global Platts assessments show. But according to the Mexican government, retail profit margins for regular gasoline have increased by 55% since October, as retailers have absorbed tax cuts without passing on the savings to customers. From each Peso Mexico grants in fuel stimulus, 63% is being absorbed by retail stations instead of being passed on to consumers, said the country’s deputy finance secretary, Arturo Herrera, during a press conference. “The final objective of the stimulus is to lower public retail prices. However, it is being absorbed by retailers as a gain,” Herrera said. Herrera said […]