Mexico tops the list of countries where gasoline is more expensive than wages

The price of oil has begun a rise that does not seem to stop. In July 2017, according to investing.com, the Brent barrel cost $ 47.52 and this Tuesday, 78.63. This is an increase of 68% in 12 months.

This increase is reflected in the cost of gasoline in the world. However, in some countries, it strikes harder than in another. On the one hand, because fuel prices are not regulated, on the other hand, because wages do not increase as much, so that the cost of loading the truck is not the same. petrol increases relative to personal income.

] A Bloomberg report last May, with data for the first four months of 2018, reveals the relationship between purchasing power and fuel prices in a group of 61 selected countries.

In this sample, the three largest countries in terms of GDP in Latin America, Brazil, Mexico, Chile and Argentina, are among the first places where gasoline is more expensive compared to average salary.

According to the analysis, Mexico is the most expensive. It is ranked 61 since the average driver uses 355.48 liters per year, which consumes 3.82% of the typical salary, says the research.

"Mexico has dismantled fuel subsidies, and drivers are feeling it: a sharp increase in early January has provoked widespread protests, despite the fact that prices remain well below world average, low incomes and long distances to travel seriously affect Mexican drivers ", Bloomberg analysis and adds: " Drivers now they spend more than their salaries each year by filling up the fuel tank than in any other country. "

In Brazil, this percentage is 2.68%; in Chile, 1.80%; in Argentina, 1.64%; and in Colombia, 1.26%.

In the case of Argentina, it is necessary to clarify how the study was conducted last May, we expect the situation to be much worse now. This is because the liter of naphtha in this country has increased by 15% between May and July which will surely lead to an increase in this ranking.

In the case of Argentina, the report points out that the country "put an end to strict controls on energy prices, after 15 years of intervention to protect drivers against price changes ". "This intervention has been criticized for discouraging the development of the country's oil and gas resources," he added.

Regarding prices, even without the latest increases, Argentina is the most expensive in Latin America. $ 1.38. It is followed by Chile (1.33 dollars), Brazil (1.23) and Mexico (1.10). May price and dollar data