The Government of Claudia Sheinbaum announced that, despite establishing a cap of 24 pesos on the price of gasoline in most of the country, this measure will not be applied in two specific areas of Mexico. The reason behind this decision lies in the threat of tariffs and the possibility that the dollar could reach 21 pesos, which would generate a considerable cost for the Government in terms of the Special Tax on Production and Services (IEPS).
The fuel price stabilization policy aims to establish fair prices through coordination between the Mexican government and the private sector. To achieve this, various efforts have been proposed, including keeping the price of premium gasoline below 24 pesos per liter, except in border areas that already have fiscal incentives allowing them to offer the product at a lower price.
To reach this goal, Pemex will set a national wholesale price for regular gasoline at its storage and distribution facilities. Additionally, the agreement stipulates that the Ministry of Treasury and Public Credit will continue to provide fiscal incentives through the IEPS for gasoline, while Profeco will be responsible for monitoring prices and transparency in costs.
Regarding the current incentives for the week of February 22 to 28, it was reported that the amount of the fiscal incentive for Magna gasoline has been reduced to 14.04%, while premium gasoline has not received any incentives since October 2023. This translates into a payment of 5.5 pesos per liter of IEPS for Magna gasoline and 5.45 pesos per liter for premium gasoline.
Maricarmen Cortés, a financial analyst, pointed out that fuels could be cheaper at the borders due to high competition with prices in the United States, which would complicate the application of the cap. Nevertheless, the measure will remain in effect only for six months in response to threats of tariffs from United States President Donald Trump.
According to the agreement between gas station owners and the Mexican Government, signed on February 27, the cap on gasoline prices will not be in effect in the northern and southern borders of Mexico due to price competitiveness with the United States. This measure will remain temporarily due to the uncertainty caused by tariff threats.
