As part of the Easter holidays, the federal government reported that the fiscal stimulus to the Excise Tax on Production and Services (IEPS) will be maintained at 100% for Magna, Premium and Diesel gasoline, as published by the Ministry of Finance and Public Credit (SHCP).
This incentive came into force last Saturday, April 9 and will be maintained until next Friday, April 22, the day on which the holiday period established by the Ministry of Public Education (SEP) ends. Similarly, the additional fiscal stimulus to gasoline will also be maintained, but with a smaller amount.
According to what was published in the Official Journal of the Federation (DOF), the additional stimulus for diesel will be 2,8612 pesos per liter (the previous week it was 3.1850); for Magna it will be 1,0225 pesos per liter (before it was 1.9664) and for Premium it went from 1,1642 to 0.1692 pesos.
Thus, the Mexican population would be saving approximately 5.49 pesos per liter for Magna gasoline; 4.63 pesos for Premium and 6.03 pesos per liter for diesel.
The average liter prices for gasoline nationwide for this April 11 are as follows:
Regular gasoline: 21,471 pesos per liter.
Premium gasoline: 23,464 pesos per litre.
Diesel: 23,102 pesos per litre.
It should be noted that fuel costs change every day and may change due to a number of factors such as the reference price (based on international oil prices and quoted in global dollars), taxes (such as IEPS) and logistics (such as transport and storage costs), for example example. Similarly, depending on the geographical location it is to the extent that fuel prices will vary.
The IEPS was implemented in Mexico in 1980 and is the tax paid for the production, sale and import of various products such as fuels, beers, soft drinks and tobaccos, to name a few.
On April 1, the SHCP announced that the 100% fiscal stimulus to gasoline and diesel would be maintained for the fourth time in a row, despite the 60.5% drop in levels of tax collection during the first two months of this 2022 derived from the collection by IEPS.
This is done to reduce the impact on gasoline prices in Mexico in the face of the international rise in oil resulting from the conflict between Russia and Ukraine. According to data from the Ministry of Finance, in January and February 2022, revenues of 18 thousand 855.7 million pesos were obtained from IEPS to gasoline and diesel, that is, 25,715.6 million pesos less than recorded in the same period in 2021.
On the other hand, according to the head of the Federal Consumer Attorney (Profeco), Ricardo Sheffield, the most expensive brands are Arco, Redco and Chevron, while the three cheapest are Repsol, G500 and Orsan, as presented at the press conference on Monday, April 11.
He also reported that in Veracruz, Minatitlán, it is the entity where regular gasoline is cheapest, since it is given at 20.09 pesos per liter, through the G500 gas station. On the contrary, Jalisco is where the most expensive prices are found for the regular one, since it is sold at 23.99 pesos per liter at the petroleos Mexicanos (Pemex) gas stations.
As for Premium, in Tamaulipas it can be found at 21.69 pesos per liter at Pemex gas stations (being the cheapest price) and in Iztapalapa, Mexico City, there are the most expensive prices, at a cost of 25.99 pesos.
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