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Thursday, March 23, 2023

Premium Gasoline: How Much Will It Cost Per Liter After Eliminating IEPS Subsidy?

After Ministry of Finance and Public Debt (SHCP) decided to ‘reduce’ fiscal support for gasoline premiumHere we tell you what will be the cost of one liter of this fuel.

After five consecutive months of helping premium gasoline, the agency reported that the special tax on production and services (IEPS) will now be 92.23 per cent and not 100 per cent as it was from March.

Due to this, the prices of ‘red’ petrol will become more expensive from Saturday 6th August.

although there will be a cut 7.77 percent for fuel Equal to or greater than 91 octane (premium), the additional cost of this gasoline would be 36 cents for IEPS, as announced by the government. Official Gazette of the Federation (DOF).

This means that a liter of premium petrol It will cost around 25 pesos per liter After eliminating this subsidy, the fuel price is 23,995 pesos from Friday 5 August.

The Ministry of Finance and Public Debt also announced that Magna gasoline (gasoline less than 91 octane) and diesel would maintain a 100 percent fiscal stimulus.

Supplemental support has been maintained for both these fuels, but it will remain zero for ‘red’ gasoline.

Agreement, published this Friday Official Gazette of Federation (DOF) It also stated that the supplementary incentives for gasoline sold in the country would be:

  • Magna: 0.68 Peso
  • Premium: 0.00 Pesos
  • Diesel: 2.15 pesos

Supplemental support for all fuels is lower than what was implemented a week earlier, when they were 1.32 pesos for the Magna; 0.76 pesos for premium; and 2.78 pesos for diesel.

The fiscal stimulus for all gasoline was retained at 100 per cent from March 12.

World Nation News Desk
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