Looting of Shopping Centers Following Protests Against Gas Price Hike in Mexico

Hundreds of protesters in Mexico blocked roads and looted several shopping centers and stores in the capital on Wednesday night, marking the third day of protests against the government's economic policies and rising fuel prices. According to Reuters, the protesters are opposing a 20% increase in gasoline prices implemented by the government from the first day of the new calendar year. Since Monday, January 2, they have gathered in the streets of Mexico City to criticize the government's economic policies. The increase in gasoline and other energy prices is part of the Mexican government's economic liberalization agenda. The government had planned to raise energy prices starting in 2018, but suddenly announced in late 2016 that it would implement the increase a year earlier. On Wednesday night, January 15, in continuation of the protests against the gasoline price hike, some protesters blocked streets in Mexico City and attacked several shops, looting them. Police officials reported the arrest of over 250 protesters, whom Rene Juarez, the Deputy Interior Minister of Mexico, labeled as "vandals." According to Miguel Angel Mancera, the mayor of Mexico City, during the unrest on Wednesday night, 23 shopping centers were looted, and 27 other stores were besieged by protesters. Meanwhile, the Mexican Retailers Association urged central and state government officials to intervene quickly to resolve the crisis. According to the association's statistics, since the protests began, 79 stores have been looted, and 170 stores have had to suspend operations to ensure their safety. Rene Juarez emphasized in a press conference on Wednesday night that "these actions are illegal and have nothing to do with peaceful protest or freedom of expression." The state-owned oil company Pemex also reported on Tuesday that protesters had besieged fuel storage terminals, leading to a "critical situation" in at least three Mexican states. Mexico is the second-largest economy in Latin America, and the implementation of gasoline price liberalization and rising costs has cast doubt on the central bank's forecasts for reducing the inflation rate. On the other hand, Donald Trump's victory in the U.S. presidential election has led to a historic decline in the value of the peso against the U.S. dollar. Trump's strict immigration policies against Mexican workers and restrictions on American factories and investors from investing in other countries, including Mexico, have raised concerns about Mexico's economic future. Last week, Ford Motor Company announced it would cancel a $1.6 billion investment to establish a luxury car manufacturing site in Mexico, stating it prefers to invest that money within the U.S.