Mexico Says Fuel System Is Stable as Localized Terminal Disruptions Persist

Overview

• Pemex stated Tuesday that it has enough product and denied a nationwide fuel shortage, and President Claudia Sheinbaum said the government’s voluntary price agreement, the 'pacto gasolinero,' remains in force.
• Commercializers and sector sources report ongoing localized distribution problems at multiple storage terminals and emergency transfers between facilities to cover shortfalls.
• Pemex has logged rising operational interruptions at terminals, with 25 incidents in March and 34 in April, which industry actors say is degrading distribution capacity.
• Import economics have worsened: reported gasoline import costs rose about 58.6% and diesel about 32%, and freight per shipment jumped from roughly $225,000 to $415,000, squeezing margins under fixed retail caps.
• Thin national reserves—official data show about five million barrels or roughly 5.8 days of cover—plus reduced private imports and alleged nonpayment to Pemex Logística suppliers raise the risk of more local shortages and longer delivery delays.