Petróleos Mexicanos diesel production posted four consecutive months of declines and closed June at 251.6 thousand barrels per day, its lowest level since September of last year. Output fell short of national demand, which reached 312.7 thousand barrels per day in the same month, according to Energía a Debate.
This shortfall is playing out in a market where international prices have been pushed higher by the Middle East conflict. The Mexican export crude blend averaged $80.56 per barrel in the first half of the year, 26% more than a year earlier, according to El Universal. As external purchases grew more expensive, private importers pulled back on product inflows, leaving supply almost entirely in Pemex's hands. Dos Bocas, with a maximum capacity of 340 thousand barrels per day, ran in June at 41% of that figure, making it the fourth-lowest producing refinery among the company's seven.
The company explained that this year's output swings reflect scheduled preventive maintenance carried out between February and March, along with an incident at the coke storage pit in April, rather than any permanent reduction in capacity. The complex, which began operations in June 2024, went from producing 212 thousand barrels per day of fuels in December 2025 to 141 thousand in June, a decline of 33%. Its reported cost exceeds $21 billion, against an original estimate of $8 billion. To address supply, the Ministry of Finance, the Ministry of Energy, and Pemex extended until March 2027 the framework that keeps Magna gasoline capped at 24 pesos per liter and diesel between 27 and 28 pesos, according to Energía a Debate.
The extension keeps price controls in place through at least March 2027, while Pemex projects a gradual ramp-up in throughput to stabilize the refinery. The key variable to watch is whether the gap between installed capacity and actual fuel output narrows before next summer.
This article was written with artificial intelligence assistance based on verified sources and reviewed by a human editor before publication.