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The Ministry of Finance and Public Credit (SHCP) will withdraw the fiscal stimulus or subsidy that it grants to the special tax on Premium gasoline.
In a statement The agency reported that, from the week of 27 October to 2 November, fiscal stimulus alImpuesto Special on production and services (IEPS) that consumers pay to mitigate increases in fuel prices for an orderly adjustment in the case of: Premiumit will be zero, which implies that the consumer is the one who will absorb the total cost of the tax of 3.88 pesos per liter. The above will not translate into an increase, he added.
He explained that the reduction in the amount of the stimulus was due to the observed decline in the price of international benchmarks during the week ending.
For this reason, for this week to begin, there will be no need to incentivize premium gasoline so that market price movements in Mexico occur in a "softened" manner.
He recalled that given the reduced stimulus for this week from 20 to 26 October, prices of all fuels remained stable at stable levels during this period.
The addiction explained that the phenomenon had been observed before, between February 25 and August 4, 2017 (with the exception of three weeks), when the international price has remained at relatively low levels.
He said the adjustments are consistent with the "smoothing" mechanism that has worked throughout the year and remains unchanged.
The Banco Base has indicated that, according to what was published by the Official Journal of the Federation, the Magna gasoline will receive a stimulus of 1,069 pesos, price at which the consumer will pay 3,521 pesos per liter IEPS, while diesel will have a stimulus of 2,326 pesos, pay 2,714 pesos per liter for taxes.
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