Photo: Doris Morgan/Unsplash

By THE PULSE NEWS MEXICO STAFF

Faced with rising natural gas costs across the nation, Mexican President Andrés Manuel López Obrador announced Wednesday, July 7, that his administration will soon open its own gas distribution company.

“We are preparing the creation of a company to distribute gas at a fair price. It will be called Gas Bienestar (Gas Wellbeing) and will sell cylinders of 20 and 30 kilos each,” AMLO said in his morning press conference.

The president added that the new state-run company will not prevent private firms from participating in the market.

“The new company will encourage competition,” he said.

At the same time, AMLO said that a government pricing mechanism will soon be established to put a ceiling on natural gas costs since, he argued, “the price of hydrocarbons in the country has unjustifiably increased.”

He said a pilot program of the price limits will begin in Mexico City, which has the highest fuel prices in the country.

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