EconomyGood news: For the second week the 100% gasoline...

Good news: For the second week the 100% gasoline subsidy continues

For the second consecutive week, Magna and Premium gasoline will have a 100% subsidy (discount) on the Special Tax on Production and Services ( IEPS ) that is charged for each liter sold at service stations.

For the week of Saturday, October 22 to Friday, October 28, an IEPS quota of zero pesos will be effective for Magna, Premium and diesel fuels, while an additional tax incentive will be granted to importers and refiners of 0.26 pesos; of 0.07 pesos and 4.13 pesos per liter, respectively, detailed the Ministry of Finance in the Official Gazette of the Federation (DOF),

The subsidy is granted by the Treasury, after the objective of amortizing price increases, and helping to reduce the general rate of inflation.

After just over two months of reducing the fiscal stimulus for gasoline, the Treasury returned 100% support for IEPS contributions last week. With this, it will be the second consecutive week that it grants them.

Diesel is the fuel that has enjoyed the 100% subsidy throughout the year. The fiscal stimuli for gasoline are published and updated every Friday, according to the behavior of crude oil prices at the international level, and those of gasoline in the United States.

When the price of gasoline rises worldwide, the government provides a fiscal stimulus by ceasing to charge or reducing the IEPS fee, and which is charged in the final price to the consumer, thus cushioning the impact of increases in fuel. When the price of gasoline falls, the Ministry of Finance has a margin to reduce the stimulus and collect IEPS.

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