Value of Mexican peso drops vs U.S. dollar

[Mike Stone]

In the past seven weeks, the value of the Mexican peso has plummeted from 9.8 pesos per U.S. dollar to 11.7 pesos per U.S. dollar. I believe this is a record, it had been as high as 11.4 in 2004 and then went down. And this is at a time when the dollar has been going down the tube versus most other world currencies.

So if you have some dollars saved up, this could be a great time to ride through Mexico. When I drove through Mexico in August, unleaded regular gas was $2.75 U.S./gallon. If the peso price has remained the same, that means the current price in dollars would be $2.30 U.S./gallon. Keep in mind also that Mexican Pemex is 100% gasoline, not 90-92% like in the U.S. Diesel is less expensive than regular gasoline. Premium gasoline, seven weeks ago, was $3.20 U.S./gallon, which also may be adjusted down now due to the lower value of the peso.