In a week marked by the elimination of the fiscal stimulus, Premium fuel is sold for up to 27.99 pesos per liter, according to data from the PETROIntelligence platform.
Magna or regular gasoline reached a maximum price of 27.45 pesos per liter this Monday, May 20, at a service station located in Sonora, according to data from the consulting firm PETROIntelligence.
This gas station, with permission from the Energy Regulatory Commission (CRE) PL/21843/EXP/ES/2018, is located on Francisco I. Madero Avenue #128, in the municipality of Álamos, according to an analysis shared by the consulting firm.
This, in a week marked by the elimination of the fiscal stimulus to the Special Tax on Production and Service (IEPS) on Magna gasoline, something not seen since the third week of January 2024.
Therefore, from Saturday the 18th until next Friday, May 24, for each liter of Magna gasoline, drivers must pay 6.17 pesos for this tax, 13 cents more than the previous week, according to the agreement published in the Official Gazette of the Federation (DOF).
Meanwhile, in the case of Premium gasoline, the federal agency maintains this fuel without fiscal stimulus, so, like last week, for each liter, drivers must pay in full the 5.21 pesos corresponding to this tax.
Premium gasoline reached a maximum price of 27.99 pesos per liter at the gas station, with permission from CRE PL/12724/EXP/ES/2015, located at kilometer 3-4 of the transpeninsular highway, in Mulegé, Baja California Sur.
Why did the Treasury eliminate the fiscal stimulus for Magna?
The Ministry of Finance and Public Credit (SHCP) eliminated the fiscal stimulus for these fuels because last week international reference prices decreased, explained the head of the Federal Consumer Prosecutor’s Office (Profeco), David Aguilar Romero.
During his participation in the morning press conference of President Andrés Manuel López Obrador, the consumer advocate pointed out that the Mexican export mix reached a price of 74.31 dollars per barrel on the international market on May 16, and consequently, set a tax incentive of 0 percent.
“It is important to recognize the work the Ministry of Finance has done throughout this administration and especially since it started this year. They carry out very precise calculations with formulas that are consistent with behaviors,” he added.
Thus, when there are sufficient elements and data that indicate that international fuel reference prices decrease, tax incentives also decrease or tend to zero.
This gradually, among other factors, is also to reduce the tax burden, Aguilar Romero stressed; However, he clarified that there is no reason for fuel prices to rise, which is why he called on service stations and companies to “in no way fall into temptation.”
“Throughout this administration and with just over four months left until it ends, the commitment that these fuels, at least, do not increase above inflation has been rigorously fulfilled,” he pointed out.
What is the IEPS and who pays it?
The IEPS is the tax paid in Mexico for the production and sale or import of gasoline, alcohol, beer and tobacco, among other goods, but like VAT, this is not paid directly by taxpayers but rather collected from their clients. .
Thus, for example, in the case of gas stations, they charge drivers the IEPS for each liter of fuel they buy; For Magna or regular gasoline this year the fee corresponding to this tax is 6.17 pesos, while for Premium it is 5.21 pesos.
However, to prevent inflation and volatility in fuel prices from impacting families’ pockets, every week the Mexican government, through the SHCP, subsidizes part or all of the payment of the IEPS, a measure known as policy of fiscal stimuli.
Gasoline price TODAY
With the cutoff at 11:00 a.m. this Monday, regular gasoline is sold nationwide at an average price of 23.49 pesos per liter, according to data from the consulting firm PETROIntelligence.
For its part, Premium gasoline is sold at an average price of 25.26 pesos per liter and diesel, a fuel used mainly by transporters, at 25.10 pesos per liter.
According to an analysis by the consulting firm, the state with the highest average price for Magna gasoline is Sinaloa, with 25.58 per liter, while for Premium it is Nuevo León, with 27.49 per liter.
In the case of diesel, Quintana Roo is the entity with the highest average price, with 26.58 per liter.
While Coahuila is the state with the lowest average price for regular and Premium gasoline, with 20.38 and 22.68 pesos per liter, respectively; As for diesel, it is Chihuahua, with 23.60 per liter.
Source: milenio
