Gas Prices and Exchange Rates

[Talleyho69]

My how things have changed!!!!

We don't drive a lot here, until the Beer Flu thing we almost always rode a Combi or used a taxi, but now we drive. Last fill up of our Escape cost $51 US. Yesterday, due to the reduced gas price and the exchange rate, it cost $27 US.

To show it differently, we are in the process of having our last construction project done here at the house, the lap pool, retaining walls, an upper patio, a huge project.

We get our cash from the ATM at INBURSA, they have the lowest fee and allow 5,000 pesos per transaction, up to your personal daily limit.

In February 5,000 pesos cost 269.37 USD including the fee.
In April 5,000 pesos cost 204.26 USD including the fee.

That is a huge difference! For once, it's in our favor during a major project.

[Talleyho69]

I"m not seeing that yet. So far the few imports we see here have not gone up in price.

With the situation as it is right now, at least here in a tourist town, people are struggling to buy rice, beans and masa. They are being made available by the government, but there isn't enough to feed everyone.

They aren't even considering anything imported, just staying fed is the goal.

[westernrvparkow]

romore wrote:
Gotta love it as a consumer but the oil and gas industry is taking a huge hit putting many out of work at a difficult time. There is no free lunch.

The change the OP is talking about is very BAD for the consumers in Mexico. He is benefiting only because his primary funds are in US currency. The weakening of the peso makes all items imported into Mexico more expensive for the locals.

[Talleyho69]

Very true, but it sure is helping the cost of our project.

We also try to keep in mind that we are keeping 6 more people employed for the next four months. In these times, especially here, that is huge.

[romore]

Gotta love it as a consumer but the oil and gas industry is taking a huge hit putting many out of work at a difficult time. There is no free lunch.