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Mexico

Government Cuts Back Gasoline Subsidies

According to estimates by the SHCP, gasoline subsidies will be reduced for the second week in a row

Petróleos Mexicanos gas station, photo: Cuartoscuro/Galo Cañas
By Vianey Pichardo Whatsapp Twitter Facebook Share
8 months ago

According to estimates by the Secretary of Treasury and Public Finance (SHCP), gasoline subsidies will be reduced for the second week in a row, while taxes per liter of low-octane Magna gasoline will increase.

For the week of March 4-10, gasoline incentives will be 22.6 percent, that is 0.97 centavos ($0.0497) per liter for Magna. The previous week ranged 26.7 percent and 1.15 pesos ($0.0589). Diesel fuels will shift 24 percent, which represents 1.1 pesos per liter compared to last week’s 28.3 percent representing 1.3 pesos. High-octane Premium fuel has no subsidies and taxes remain the same at 3.64 pesos per liter.

Consumers will notice a tax increase of 3.32 pesos on Magna fuels for the following week, contrasted with this week’s amount of 3.15 pesos.

Diesel users will pay a 3.59 peso tax per liter, an estimate above this week’s 3.38 pesos.

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