Claudia Sheinbaum has kept a nationwide petrol price ceiling of 23.99 pesos ($1.37) per litre since early 2025, using moral suasion and the threat of government scrutiny to enforce a "voluntary" agreement with retailers. The cap sits about two pesos above the wholesale price at terminals owned by state oil firm Pemex, and in April a diesel ceiling of 27 pesos was added, tightening supply.

Executives say the diesel limit is already hard to sustain, and analysts warn the policy is "not sustainable" long‑term. Pemex posted a $2.5bn loss in Q1, with gasoline revenue down 1.3%, while distributors have cut investment and paused new stations.

The approach mirrors the populist playbook of predecessor Andrés Manuel López Obrador, centralising power and using price controls to curb inflation. Critics argue the micromanagement scares investors; gross fixed capital formation has fallen since Sheinbaum took office, and business leaders see the caps as a signal of unpredictable regulation.

While Sheinbaum shows pragmatism on infrastructure and even opens the door to fracking, the price caps illustrate a willingness to deploy coercive tactics when political stakes are high, potentially deterring the foreign capital Mexico desperately needs.