Thosuands participated in rallies in at least 12 states to protest the sharp spike in gas prices. Fred Katayama reports.
Mexicans aghast at sharp gas price hikes. Thousands took to the streets in at least 12 states to protest. The government has hiked gas prices by up to 20 percent since January 1. Sunday's protest was peaceful, but two people died in earlier clashes with police, and hundreds have been arrested for looting. Many protesters called on President Enrique Pena Nieto to leave office. Laura Isla took her message to the streets. SOUNDBITE: LAURA ISLA, PROTESTER, (SPANISH) SAYING: "I am here because I am in disagreement with all the policies of the government of Enrique Pena Nieto and what his whole cabinet has imposed on this country, which has caused a lack of equality, inflation." The government's moves are aimed at bringing gas prices up to market levels. Robert Yawger is director of energy futures at Mizuho Securities USA. SOUNDBITE: ROBERT YAWGER, DIRECTOR OF ENERGY FUTURES, MIZUHO SECURITIES USA (ENGLISH) SAYING: "It was an artificially depressed market, which is never good, and it exists in a lot of countries, especially energy producing countries. And then the government finally realized it's going bankrupt cuz they're giving everyone gasoline pseudo for free and it comes as a shock to the populace when the price finally comes down the pipe." Yawger predicts gas from the U.S. will eventually be shipped to Mexico, helping alleviate the price hikes.