We start 2024 with a gasoline price hike up to $29.99 in some areas of Mexico

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According to the Mexican Ministry of Finance and Public Credit (SHCP), during the first week of January, from January 1 to 5, there are no fiscal stimuli for magna, premium or diesel gasoline.

So, what will be the price of gasoline in these first days of 2024? Hold on, first we tell you how much you have to pay for the gasoline tax.

For magna gasoline (less than 91 octanes) it will be 6.1752 pesos per liter. Premium gasoline (greater than or equal to 91 octanes, as well as non-fossil fuels) is at 5.2146 pesos. Finally, diesel is at 6.7865 pesos per liter. This without fiscal stimuli.

Up to 29.99 pesos per liter of Magnum gasoline

So, this means that in some stations in Mexico the Magna gasoline reaches up to 28.99 pesos per liter. The Premium is up to 29.99 pesos per liter.

Although for the moment the Profeco consultation page does not work to consult the prices of gasoline in different stations of the CDMX, the page of the Congress of Mexico City warns that the average prices are like this:

22.27 pesos per liter of magna

24.75 pesos of premium

23.52 pesos per liter of diesel

Now, it was since December 22 of last year, in 2023, when the Ministry of Finance published in the Official Gazette of the Federation the notice of the increase to the special tax on products and services (IEPS) for soft drinks, cigarettes and gasoline.

In short, it is an increase of 4.32% or 1.0432 points but, how will it be reflected in the prices of the products already mentioned?

2024: Increase in taxes on soft drinks, cigarettes and gasoline in Mexico

As every year, the Ministry of Finance and Public Credit (SHCP) got to work to update the special tax on production and services or IEPS for soft drinks, cigarettes and gasoline. And yes, for this 2024 these products will cost more. While everyone is in the recount of 2023

Source: Sopitas