Economy & Business - April 2026

Despite being a major producer of crude oil, Mexico’s President Claudia Sheinbaum has been forced to take concerted action to cushion the blow from surging international energy prices caused by the conflict in the Middle East. Resorting to a mix of fiscal relief and administrative pressure on fuel retailers, Sheinbaum is attempting a delicate balancing act to shield Mexican consumers from inflationary pressures at the same time as maintaining fiscal discipline, complicated by the fact that Mexico imports more than half of the gasoline and diesel it consumes domestically.