Mexico-Oil Price Spike

Surging oil price poses grave threat to freight transportation in Mexico

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Shotlist


Nuevo Laredo, Mexico - March 10-11, 2022 (CCTV - No access Chinese mainland)
1. Various of freight vehicles on road
2. Various of technician checking vehicle
3. Fuel truck moving
4. Various of cars moving on street
5. Petrol station
6. Sign of petrol station
7. Oil prices
8. Man getting on bus

Storyline


Freight transportation in Mexico has been gravely impeded as global spike in oil prices has greatly lifted the costs of transportation companies.

Gasoline and diesel prices for freight vehicles have recently risen by almost five pesos (about 0.24 U.S. dollars) per liter in Mexico, and the impact of such a price increase is catastrophic for all types of companies and drivers, according to the chairman of the Mexican Alliance of Transportation Organizations.

Nuevo Laredo, a port city of Mexico, is one of cities which bear the brunt of the impact from the oil price hike.

There are roughly 16,000 freight vehicles passing through the port every day, transporting commercial goods to the United States.

The surge in oil prices has cast gloomy prospect over the operation of freight companies as they have to confront a series of subsequent negative consequences.

And if the situation worsens, a considerable number of companies may choose to suspend their transportation due to the unbearable surging costs.

Moreover, the potential large-scale logistics outages will further drag on the supply chain of various industries, posing grave threat to the economic recovery.

Economic analysts in Mexico pointed out that the uptrend of high oil prices may not end in the short term.

In addition to subsidies to oil refineries, the country's government announced that these companies are able to enjoy the reduction or exemption of the Special Tax on Products and Services (IEPS) from Saturday to Friday, which can reduce the cost by about 4.6 to 5.5 pesos (about 0.22 to 0.26 U.S. dollar) per liter of gasoline, hoping to cut down and stabilize the oil prices in terminals through the move.

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  • ID : 8263370
  • Dateline : March 10-11, 2022
  • Location : Mexico
  • Category : economy, business and finance
  • Duration : 1'30
  • Audio Language : Nats
  • Source : China Central Television (CCTV)
  • Restrictions : No access Chinese mainland
  • Published : 2022-03-13 17:20
  • Last Modified : 2022-03-13 21:36:07
  • Version : 2
  • ID : 8263370
  • Dateline : 10-11 mar. 2022
  • Location : México
  • Category : economy, business and finance
  • Duration : 1'30
  • Audio Language : Nats
  • Source : China Central Television (CCTV)
  • Restrictions : No acceso a la parte continental de China
  • Published : 2022-03-13 19:14
  • Last Modified : 2022-03-13 21:36:07
  • Version : 2

Mexico-Oil Price Spike

Surging oil price poses grave threat to freight transportation in Mexico

Dateline : March 10-11, 2022

Location : Mexico

Duration : 1'30

  • English
  • Español


Nuevo Laredo, Mexico - March 10-11, 2022 (CCTV - No access Chinese mainland)
1. Various of freight vehicles on road
2. Various of technician checking vehicle
3. Fuel truck moving
4. Various of cars moving on street
5. Petrol station
6. Sign of petrol station
7. Oil prices
8. Man getting on bus


Freight transportation in Mexico has been gravely impeded as global spike in oil prices has greatly lifted the costs of transportation companies.

Gasoline and diesel prices for freight vehicles have recently risen by almost five pesos (about 0.24 U.S. dollars) per liter in Mexico, and the impact of such a price increase is catastrophic for all types of companies and drivers, according to the chairman of the Mexican Alliance of Transportation Organizations.

Nuevo Laredo, a port city of Mexico, is one of cities which bear the brunt of the impact from the oil price hike.

There are roughly 16,000 freight vehicles passing through the port every day, transporting commercial goods to the United States.

The surge in oil prices has cast gloomy prospect over the operation of freight companies as they have to confront a series of subsequent negative consequences.

And if the situation worsens, a considerable number of companies may choose to suspend their transportation due to the unbearable surging costs.

Moreover, the potential large-scale logistics outages will further drag on the supply chain of various industries, posing grave threat to the economic recovery.

Economic analysts in Mexico pointed out that the uptrend of high oil prices may not end in the short term.

In addition to subsidies to oil refineries, the country's government announced that these companies are able to enjoy the reduction or exemption of the Special Tax on Products and Services (IEPS) from Saturday to Friday, which can reduce the cost by about 4.6 to 5.5 pesos (about 0.22 to 0.26 U.S. dollar) per liter of gasoline, hoping to cut down and stabilize the oil prices in terminals through the move.

ID : 8263370

Published : 2022-03-13 17:20

Last Modified : 2022-03-13 21:36:07

Source : China Central Television (CCTV)

Restrictions : No access Chinese mainland

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