One of the main promises that Andrés Manuel López Obrador made upon taking office as President of Mexico was not to raise fuel prices, which is why gasoline and diesel have become one of the main topics of conversation among Mexicans.
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There have been several occasions in which the president has called on dealers to help maintain a balance between prices and comply with the commitment not to make increases that have a significant impact on the pockets of citizens.
However, elements such as international oil costs, the dollar exchange rate, taxes, the profit margin of gas station brands, logistics costs and even geographic location mean that the price of fuel cannot be maintained without changes.
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For this reason it is important to be informed, government agencies such as the Energy Regulatory Commission (CRE) and the Federal Consumer Attorney’s Office (Profeco) constantly publish updated gasoline prices in states and cities.
Before filling the tank of your car, check what the prices of gasoline and diesel are in Mexico this April 20. Remember that the cost of fuel changes every day, so it is important that you know its value.
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The value of magna gasoline this day is 22,057 pesos per liter on average.
While the cost of premium gasoline today is 24,275 pesos per liter on average
Regarding the price of diesel, it stands at 23,758 pesos per liter on average.
Prices reported by permit holders online in accordance with the obligation established in Agreement No. A/041/2018 of the Energy Regulatory Commission.
MEXICO CITY, JUNE 08, 2019.- The Ministry of Finance and Public Credit (SHCP) recently eliminated the fiscal stimulus applied to the price of fuels, so motorists will pay the full quota of the Special Tax on Production and Services (IEPS) on gasoline premium which is $4.00 pesos from today to June 14. PHOTO: MARIO JASSO /CUARTOSCURO.COM
When regulated by the market, the price of gasoline not only varies by entity and city, it even does so by gas station.
To consult the lower value of gasoline and diesel per station in real time, there is the following official website of the CRE -the highest regulatory body in energy matters in Mexico-, where you can access this and more information on the matter, simply entering the entity and the municipality of residence.
Profeco also has a website in order to provide updated information on the service stations that sell gasoline and diesel with the highest and lowest prices throughout the country.
The Profeco page is called “Who is who in the gasoline”, which is built from the reports of the same CRE on the sale to the public of gasoline and diesel.
Other of Profeco’s services is the Litro X Litro application, available on iOS and Android, where users can identify gas stations that sell full liters of fuel, as well as compare prices, file complaints and complaints.
FILE PHOTO: Gas is flared at the state energy company Petroleos Mexicanos (Pemex) Perdiz Plant, which is unable to process the vast volumes of gas sent from the Ixachi field, outside of Tierra Blanca, Mexico May 4, 2022. Picture taken May 4, 2022. REUTERS/Quetzalli Nicte-Ha/File Photo
The cost of fuels can vary in Mexico due to a variety of factors such as reference costs, taxes and logistics.
The reference cost is based on international oil prices, since it is quoted in dollars globally, therefore, the average value of gasoline is modified with respect to the exchange rate between the dollar and the peso.
During the first months of the covid-19 pandemic, the influence of international oil prices on gasoline was evident when the hydrocarbon fell to reach historical figures, which triggered gasoline to record very low costs, until “black gold” stabilized and with it the value of its derivatives.
The same thing happened, but in an opposite case, during the first half of 2022, when international oil prices skyrocketed and with it the cost of fuel around the world.
However, there were countries that were less affected due to different measures, such as Mexico, where a subsidy applied by the Federal Government kept fuel prices relatively stable.
Said subsidy is a stimulus to the Federal Special Tax on Production and Services (IEPS), which directly influences the price of fuels and which is determined by the Ministry of Finance and Public Credit (SHCP).
Costs can also change for logistical reasons, that is, transportation and storage, if fuel prices rise when transporting refined oil and gasoline in pipes or by ship, costs will increase.
Other factors that influence fuel costs are given by geographic location.
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