The Olmeca refinery in Dos Bocas, Tabasco, produced 83.1 thousand barrels per day of diesel in February, accounting for 27.85% of national output from Pemex's seven refineries. This contributed to cutting diesel imports to the lowest level in 17 years and starting exports. Diesel prices have risen in both Mexico and the United States.
The Olmeca refinery, located in Puerto de Dos Bocas, Tabasco, reached 83.1 thousand barrels per day of diesel production in February, according to Petróleos Mexicanos (Pemex) data. This accounted for 27.85% of the 298 thousand barrels daily from the National Refining System (SNR). In one year, it went from zero contribution to over a quarter of the national total.
Diesel imports dropped to 34.5 thousand barrels per day, from 93.1 thousand in February last year, the lowest in 17 years. Pemex's spending fell from $255.2 million to $87.9 million. Pemex also exported 60.2 thousand barrels daily for $154.7 million, compared to zero the previous year.
Diesel makes up 45.84% of Olmeca's output, ahead of gasolines at 37.6%. Cadereyta refinery in Nuevo León ranked second with 53.7 thousand barrels daily (17.98%), followed by Tula, Hidalgo (15.08%), Minatitlán, Veracruz (11.5%), Madero, Tamaulipas (10.35%), Salina Cruz, Oaxaca (8.8%), and Salamanca, Guanajuato (8.4%).
Amid this, U.S. diesel prices rose to $5.4 per gallon, up 44% since late February before the Middle East conflict, per the AAA. In Mexico, prices increased 9.6% in one month, from 26.2 to 28.7 pesos per liter, narrowing the gap with the U.S. from 50% to 10.5%.