Finance Ministry Increases Subsidies for Regular Gasoline and Diesel

The Ministry of Finance and Public Credit (SHCP) has decided to increase the fiscal support it provides for regular gasoline and diesel. For the week of April 5 to April 11, the agency will charge a rate of 5.74 pesos per liter for the Special Tax on Production and Services (IEPS), down from the rate of 6.22 pesos that was in effect until April 4, according to the official publication in the Federal Official Gazette (DOF). In this way, the fiscal support for this fuel has increased from 3.59% to 11.06%.

Additionally, the price of diesel per liter will also benefit from a small discount of 0.28%, after not receiving any subsidies for much of the year. This week, the rate for diesel will be 7.07 pesos per liter, down from 7.09 pesos. On the other hand, the price of Premium gasoline will remain without subsidy, as it has been all year, costing 5.45 pesos.

Why are subsidies offered for gasoline? The Finance Ministry has the ability to provide subsidies for the IEPS to mitigate increases in international prices, in order to prevent inflationary effects in the country. When prices stabilize without significant increases, the agency collects the full special tax on production and services, contributing to tax revenues. What is the current price of gasoline? As of Friday, April 4, the average price per liter of regular gasoline is 23.70 pesos, Premium is 25.71 pesos, and diesel averages 26.13 pesos, according to information from PetroIntelligence.

It is essential for consumers to stay informed about these changes in subsidies, as they directly affect their daily economy. Moreover, the management of fuel prices has a significant impact on inflation and the overall cost of living, making it important for the government to maintain a balance between tax revenues and support for citizens. Being informed about these issues allows people to make more informed decisions regarding their personal finances.