Mexico faces budget pressures as it now spends double the money on subsidizing domestic fuel to keep inflation in check than the money it receives from exporting oil, even at prices above $100 per barrel. Mexico's spending on gasoline and diesel subsidies is set to be $2.39 billion this month, according to estimates by Bloomberg Economics's Felipe Hernandez. Mexico, which has pledged to keep the increase in fuel prices lower than the inflation rate, faces growing government costs to keep fuel prices in check amid surging fuel prices…
