The Treasury applies the fiscal stimulus to the premium and doubles it in the Magna: how much will gasoline cost from February 27

Given the impact on rising oil prices, the Ministry of Finance and Public Credit (SHCP) has chosen to apply the tax stimulus to Premium gasoline, as well as to increase that of Magna and Diesel. This means that drivers will pay less tax for every liter of fuel.

In Mexico, a tax is levied on gasoline consumed, i.e. the special tax on production and services (IEPS) Federal, determined by the Ministry of Finance and Public Credit, based on the exchange rate, international benchmark oil prices and logistics costs.

According to the agency, which published the changes in the Official Journal of the Federation (DOF), the change will be considered from next Saturday. February 27 and until next Friday, March 5.

Here are the amounts applicable to automotive fuels from the following week:

* Premium Gasoline (with an octane rating equal to or greater than 91): your budget stimulus will be 0.28%, percentage established for the first time since October 2019, i.e. drivers will pay a tax of 4.30 pesos per liter corresponding to the IEPS, a figure less than 4.31, which is the current full tax rate.

* Magna Gasoline (less than 91 octane): in this case the stimulus will be much higher, since it doubled when it was placed at 34.87%, which is the double applied compared to last week. Therefore, consumers will pay 3.33 pesos per liter (1.7833 less).

It should be noted that the full IEPS quota envisaged for 2021, in this case, is 5.1148 pesos per liter.

* The relaunch of diesel also rose to 14.33%, so the consumer share will decrease to 4.81 pesos.

Gasoline Prices Today

This Friday, February 26, gasoline prices in Mexico oscillate between 19.98 pesos per liter of Magna, as well as 20.97 pesos for Premium, and 21.09 for Diesel about.

For the State of Mexico, the price of the Magna today is around 20.13, the Premium 21.20 pesos per liter and the diesel 20.97.

While in Mexico City, the price of the Magna is 20.71, the Premium 21.85 and the Diesel 21.26.

Remember that the The price of gasoline may vary in Mexico, due to various factors. Some such as: reference prices, taxes, logistics costs, among others.

According to experts, the benchmark price is based on international oil prices. Currently, the biggest cost impact has been caused by the winter storm that has hit Texas in recent days.

For its part, according to current information, the intermediate Texas oil price (WTI) opened on Friday with a drop of 1.68%, to 62.46 dollars per barrel, due to the rise in the price of the dollar and the fear that producers will increase. crude supply soon.

As of 9:05 am local time (2:05 pm GMT), WTI futures for April delivery were down $ 1.07 from the previous day’s close, where they ended up 0.49%.

Benchmark US crude has been affected by recent moves in other markets, including government debt bond markets, which fell after a sharp rise this week, and the dollar price, which rose against the euro. and other currencies.

Rising prices for the US currency steadily lower oil prices, making crude more expensive for those who trade other currencies.

Despite today’s setback, WTI is on course to end a very positive month, with an increase of around 20% thanks to expectations that vaccinations will bring an end to the pandemic and, with it, demand for oil will resume.

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