Gasoline will be cheaper starting next week

Gasoline prices for consumers will be lower next week.  (Photo: EFE/Mario Guzmán)
Gasoline prices for consumers will be lower next week. (Photo: EFE/Mario Guzmán)

According to information issued by the Journal of the Power of the Federation, It was announced that there will be an increase in the percentages of the fiscal stimulus for the period from January 22 to 28, 2022.

Through the agreement by which the percentages and amounts of the fiscal stimulus are disclosed, as well as the reduced quotas of the special tax on production and services applicable to fuels, it is indicated that the support for the payment of the quota of the Special Tax on Production and Services (IEPS) on the great gasoline (green color) is 77.05%. With this, consumers will only have to pay 1.26 pesos per liter.

On the other hand in the case of the premium gasoline (red color) the stimulus rose from 38.56% to 52.13%, this means that motorists will pay 2.22 pesos per liter of IEPS.

Furthermore, for the case of diesel, Treasury applied an upward adjustment. The applied support will be 67.38%, so the buyers of said fuels will pay IEPS 1.96 pesos per liter.

It should be noted that on January 17, the government announced that, until Friday, January 21, there would be a fiscal stimulus on the Special Tax on Production and Services (IEPS) for the regular gasoline of 66.42% while for premium gasoline it would be 38.56%; and for diesel, 57.30%.

“With these supports, the Secretary of Finance seeks to control fuel prices in favor of consumers.” announced the government of Mexico.

Already from the year 2021 in the period between January and November, the fiscal stimulus to the price of automotive fuels It amounted to 79 thousand 401 million pesos, this meant 75 thousand 955 more than in the same period of 2020.

In that year they used 53,681 million pesos more of imports than in the same period of 2020 to mitigate the increase in the price of fuel.

It should be noted that so far in the last three years, the so-called “gasolinazos” have not been presented. This is due to the constant fiscal stimuli that the federal government has implemented. In this year, the Tax Administration Service (SAT) announced that in 2021 the federal government stopped receiving 104 thousand 76 million pesos due to the subsidy in the price of gasoline. It should be noted that this implies 2 thousand 758% more than in 2020

This resource has been applied in order to prevent fossil fuels from becoming more expensive for the final consumer in an environment of rising international oil prices. The agency detailed at the time that in 2021 the stimuli for gasoline and diesel were 100 thousand 630 million pesos higher than the 3 thousand 446 million they represented in 2020.

Gas stations (Photo: Cuartoscuro)
Gas stations (Photo: Cuartoscuro)

It should be noted that according to the consultant Wood Mackenziethe demand for gasoline in Mexico could grow by 14% compared to last year, it also indicates that the demand for diesel could increase by 10% in 2022.

In general, on average national level, by the third day of January 2022it was of 20,557 pesos for the regular gasolineper liter, in gasoline premiumin average price per liter was 22,636 pesos. Finally the price of Diesel on average was 22,048 pesos. However, on those dates it was recorded that some gas stations maintained prices of up to 23 pesos per liter, to which Profeco announced that it would begin the pertinent investigations.

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