Mexican drivers flood into Calif. to buy cheaper gasoline

[Judi Lynn]

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As Mexico opened a formerly monopolized market to foreign competitors for the first time in nearly eight decades, the government increased fuel prices to attract imports and outside competition. The 20 percent hike, dubbed a “gasolinazo,” or fuel-price slam, sparked protests across the country that curtailed fuel distribution, leaving Petroleos Mexicanos, or Pemex, struggling to keep its stations supplied.

Unleaded gas prices in Mexicali were raised in January to 16.17 pesos a liter, or $2.815 a gallon. Seventeen miles north in El Centro, Calif., prices jumped 5 cents a gallon overnight to average $2.715 on Wednesday, according to GasBuddy, a price-tracking company.