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Peña Nieto: preserving economic stability. Peña Nieto: preserving economic stability.

‘I share your pain’ over gas prices: Peña Nieto

But president says it was a necessary and 'responsible measure'

President Enrique Peña Nieto told Mexicans today that he shared their pain over the big hike in fuel prices that went into effect Sunday, but declared that the alternative would have been greater cost and more pain for the country.

In a live video address from his official residence, the president said that “without doubt this measure is one that nobody would have wanted to take.”

“We must all accept the challenge of this adjustment in order to move forward.”

Peña Nieto explained the increases, which on average raised prices by 15%-20%, were in response to international prices and not a result of the government’s reforms.

“The adjustment in the price of gasoline is not a result of energy reform or tax reform, but a reflection of the increase in international gasoline prices . . . .”

The move was a “responsible measure consistent with what I have decided is a priority for our government,” he said.

Not to have raised prices would have been a threat to that priority, he said, which is “to preserve our economic stability.”

The increases, which applied to both gasoline and diesel, have triggered angry protests across the country since Sunday, along with warnings that food, transportation and other costs would be severely affected.

Source: Milenio (sp)

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