Gasoline prices in Mexico will rise by as much as 20 percent at the start of January, the country’s Finance Ministry said Dec. 27, Reuters reported. The price increase was expected and comes as part of a liberalization program for Mexico’s fuel sector. The price of Magna gasoline will jump by around 14 percent to an average price of 15.99 pesos per liter, while the price of Premium gasoline will increase by about 20 percent to an average of 17.79 pesos per liter. The cost of diesel is set to rise by 16.5 percent, to an average price of 17.05 pesos per liter. While energy reform is likely to remain the law of the land in Mexico no matter who wins the country’s 2018 presidential elections , it could face setbacks if leftist candidate Andres Manuel Lopez Obrador wins the vote.