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LatinNews Daily - 14 April 2021

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In brief: Warnings of negative impact of Mexico’s oil sector reform

*Mexico’s Comisión Federal de Competencia (Cofece), the federal anti-trust body, has warned that the oil sector reform promoted by the government led by President Andrés Manuel López Obrador and which is currently being debated in congress, will negatively affect local business and households. In a statement, Cofece explained that the proposal to give the state greater control over the petrol fuel import, sale, and distribution market in Mexico would undermine competition and potentially lead to higher petrol fuel prices. The statement explains that the proposed changes could lead to a reduction in market actors and supply, resulting in “an increase in prices paid by Mexican families and businesses”. For this reason, the statement adds, Cofece has formally recommended congress not to approve the reform.