Gasoline and Diesel Rates for Next Week

11:03 04/10/2024 - PesoMXN.com

The prices for Magna gasoline, Premium gasoline, and diesel continue their five-week streak without discounts on the Special Tax on Production and Services (IEPS), according to the Ministry of Finance and Public Credit (SHCP). For the period from October 5 to October 11, the IEPS rate for Magna gasoline will be 6.17 pesos per liter, the Premium gasoline will have a rate of 5.21 pesos, and diesel will incur a charge of 6.78 pesos, as stated by the agency in the Official Gazette of the Federation (DOF). By not offering additional incentives, the SHCP has managed to increase its revenue. From January to August of this year, IEPS collections for gasoline have risen by 82% compared to the same period last year.

This tax generated revenues of 268,878 million pesos, while last year, 140,998 million pesos were collected, according to information from the Ministry of Finance.

Why are discounts applied to the IEPS? The federal government provides these discounts in order to mitigate potential price increases in fuels, especially when oil prices rise, which in turn helps to avoid increased inflationary pressure. By reducing the subsidy that the Ministry of Finance applies, the government's tax revenue increases. Gasoline Prices According to PetroIntelligence, on Friday, October 4, the average price per liter for Magna gasoline was 23.89 pesos, Premium was at 25.33 pesos, and diesel was priced at 25.45 pesos.

This situation highlights the importance of staying informed about changes in fuel tariffs, as these increases can directly impact the cost of living and family budgets. In a challenging economic environment, it’s essential to manage our finances carefully and look for ways to cut expenses, being aware of how fuel prices affect spending in other sectors.