Despite the fact that the Treasury is starting to charge more for IEPS, the prices of these fuels showed slight decreases from last Friday to this one.
For the third consecutive week, the most widely used fuels in Mexico; Magna and Premium gasoline, and diesel, will not enjoy tax incentives, discounts or subsidies from the Ministry of Finance and Public Credit (SHCP).
For the week of June 1 to 7, the rate for the Special Tax on Production and Services (IEPS) will be collected without discounts or subsidies from the Ministry of Finance. The rate for a liter of Magna gasoline remains at 6.17 pesos; the rate for Premium gasoline is and will be 5.21 pesos, and 6.78 for a liter of diesel, detailed in the Official Gazette of the Federation (DOF).
When fuel prices remain stable or do not have large increases, the Ministry of Finance collects the IEPS rates in full, or with small discounts, which helps collect tax revenue.
The objective of granting discounts on the IEPS rates is to offset the price escalation when the price of crude oil rises.
How much does gasoline cost in Mexico?
Although the Treasury is charging more IEPS on gasoline, the prices of these fuels showed small decreases from last Friday to this one.
On Friday, May 24, the average price of Magna gasoline in Mexico was 23.56 pesos per liter, that of Premium gasoline 25.27 pesos, and that of diesel 25.15 pesos, according to the PETROIntelligence agency.
Source: expansion
