For the remainder of 2024 there will be no gasoline subsidy, which could bring an increase in fuel prices by the end of the year.
Through the Official Gazette of the Federation, the Ministry of Finance and Public Credit notified the elimination of tax incentives that apply to gasoline and diesel so that their cost does not fully impact final consumers.
This means that consumers will have to pay the full share of the cost of fuel in the absence of the Special and Indirect Tax that applies to the import and production of Products and Services, anticipating an impact on their pockets in a season in which, regularly , there is high consumption due to the celebrations and meetings related to the holidays and the beginning of 2025.
Up to six pesos
Citizens must then cover the 6.1 pesos per liter of Magna or regular gasolinealso known as “green gasoline”, while in the case of gasoline Premium or “red” it is expected that they must cover the 5.2 pesos corresponding to the quota of the IEPS.
Given this, it is expected that “red” gasoline could exceed 25 pesos per liter at some stations, while “green” gasoline could exceed 27 pesos.
It is already applied in the city
An example of this is already seen in the case of the station located on Basilio Vadillo number 930, in Guadalajara, where Premium gasoline is offered at 26.45 pesos per liter, while “green” gasoline has a cost of 24.99 pesos.
However, there are higher costs, as in the case of the station located at Anillo Periférico 4435, in Zapopan, where “red” gasoline costs 27.49 pesos, while green gasoline reached 25.99 pesos per liter.
In the case of the station located on Calzada Independencia Norte 712, the Premium is offered at 26.52 pesos per liter, while the Magna has a cost of 27.39 pesos.
“It has become increasingly difficult for me to put gas in the car. I put between 10 and 15 liters per week in my vehicle and with that I go and come to work because I don’t live far from the office, but I went from paying between 225 and 330 pesos at the beginning of the year, to paying 245 to 370 pesos . It seems like it’s not much, but of course you realize that gasoline goes up and up, but it never goes down,” said Mariana Castro, for example.
“I put green gasoline in my vehicle, but in recent days I have noticed that the green and red are almost the same. Sometimes I have seen that the Magna costs 24.99 and the Premium 25.99, it even makes me want to turn it red. But it has been an additional expense to be paying more than two pesos per liter of what it cost at the beginning of the year, and I better try not to go out if it is not necessary,” said Martín Ponce.
They go up
Based on Martín’s response, it can be compared that, from December 2023 to these dates, the average price of Magna gasoline was 22.15 pesos, while Premium had a cost of 24.19 pesos, according to figures from the platform. Petrointelligence.
This means that Today a liter of both gasoline is around three pesos more expensive than what it cost at this time last year..
According to Onexpo Nacional, Mexico’s gas station association, the elimination of the IEPS prevents Mexicans from seeing a drop in gasoline prices.
Furthermore, he considered thatAs the stimulus is eliminated, as has been done by the end of 2024, it responds to the need to increase tax collection to reduce the country’s fiscal deficit and establish financial stability.
“For example, Premium gasoline has not had stimuli throughout 2024, and subsidies for Magna and diesel have been much lower compared to 2023. This translates into a higher final cost for consumers, despite the expectations of a decline,” Onexpo indicated through its platform.
CT