Mexican President Andres Manuel Lopez Obrador said on Wednesday that his government will create a new business within the state oil company Petroleos Mexicanos (PEMX.UL) to distribute liquefied petroleum gas (LPG) directly to consumers. Lopez Obrador, who has sought to strengthen the power of the highly indebted company, known as Pemex, said he aimed to protect the poor who are usually hit hardest by rising energy prices. “Pemex is also going to take charge of (LPG) distribution,” Lopez Obrador said at his regular news conference. “We’re not going to take away the right to sell gas from distributors but there will be more control of supply and pricing.” Over the past year, LPG prices have increased […]