The World - News from Nov. 29, 1985

Mexico announced that it is raising prices of its light-grade crude oil by an average of 76 cents a barrel in December. The action apparently reflects a firmer oil market and growing winter demand. Pemex, the national oil monopoly, said the price of Isthmus, used mostly for gasoline and other light fuels, will rise 85 cents to $28.35 a barrel for the American continent, and by 55 cents for the Far East. The price of heavier Maya oil remains unchanged at $23.10. About half of Mexico’s daily export of 1.5 million barrels goes to the United States.