The News

Government Cuts Back Gasoline Subsidies

CIUDAD DE MÉXICO, 22FEBRERO2017.- Por segundo día consecutivo el precio de los combustibles continúa fluctuando en las distintas entidad del país, debido a la baja en el precio del petróleo, así como la alza en el tipo de cambio dólar. La gasolina Magna se registró con un precio de 16.28 y la Premium en 18.16, esto en la delegación Cuauhtémoc. FOTO: GALO CAÑAS /CUARTOSCURO.COM

According to estimates by the Secretary of Treasury and Public Finance (SHCP), gasoline subsidies will be reduced for the second week in a row, while taxes per liter of low-octane Magna gasoline will increase.

For the week of March 4-10, gasoline incentives will be 22.6 percent, that is 0.97 centavos ($0.0497) per liter for Magna. The previous week ranged 26.7 percent and 1.15 pesos ($0.0589). Diesel fuels will shift 24 percent, which represents 1.1 pesos per liter compared to last week’s 28.3 percent representing 1.3 pesos. High-octane Premium fuel has no subsidies and taxes remain the same at 3.64 pesos per liter.

Consumers will notice a tax increase of 3.32 pesos on Magna fuels for the following week, contrasted with this week’s amount of 3.15 pesos.

Diesel users will pay a 3.59 peso tax per liter, an estimate above this week’s 3.38 pesos.