Consumers of Premium gasoline will once again have the fiscal stimulus that the federal government grants through the special tax quota to be paid when prices to the public exceed inflation.
The Ministry of Finance and Public Credit (SHCP) reported that in the week of April 10 to 16 of this year, the Premium will have a 2.68% stimulus, after it was withdrawn during the Easter and Easter period.
The above is equivalent to 0.11 pesos, with which the amount to be paid for the special tax on production and services (IEPS) in service stations from today is 4.20 pesos per liter, less than the 4.31 pesos in force until yesterday.
For the Magna, the subsidy increased, going from 32.02% to 33.85%, that is, 1.73 pesos, with which the tax rate payable by motorists as of today is 3.38 pesos for each liter.
In the case of the diesel stimulus, which is used mainly by carriers, the SHCP decided to reduce it from 7.60% to 3.02%, to pay an IEPS fee of 5.45 pesos per liter.
The IEPS is one of the components that make up the final price to be paid at the service stations by consumers. 16% VAT is also paid, to which is added the cost of logistics for transportation of oil from the refinery or its import from the United States, as well as the vendor’s profit margin. It is determined based on the reference of the international price of oil.
The Congress of the Union approved that fuel prices are not higher than inflation, so when this happens, the federal government activates the fiscal stimulus that it has as a policy in order to prevent consumers’ pockets from suffering it.
Last March, the National Consumer Price Index (INPC), which measures inflation in Mexico, presented an increase of 0.83% compared to the previous month.
With this, inflation was placed at 4.67% at an annual rate, that is, above that expected by the Treasury for this year.