Economy"The little skull" is ahead of your pocket: 100%...

"The little skull" is ahead of your pocket: 100% subsidy returns to Magna and Premium gasoline

After just over two months of reducing the fiscal stimulus for gasoline , 100% support returned for the fees for the Special Tax on Production and Services ( IEPS ) that are charged per liter of Magna and Premium, reported this Friday the Ministry of Finance and Public Credit (SHCP), in the Official Gazette of the Federation (DOF).

From the week of October 15 to 21 , the quotas will be zero pesos for gasoline and diesel , in addition an additional incentive will be granted to importers and refiners of 0.57 pesos per liter of Magna; of 0.06 per liter of Premium, and 4.85 pesos per liter of Diesel.

It was in the last days of July, when the SHCP began to reduce the stimulus for the IEPS quotas, in view of the drop in the price of oil, and therefore of fuel prices.

Diesel is the only fuel that has enjoyed the 100% subsidy throughout the year, according to Expansion monitoring. The federal government has emphasized that without these supports, general inflation would be above 10%.

Just last week the stimulus or tax discount for Magna was 92.44% and for Premium 76.99%, that is, fees were charged for 0.41 pesos and 1.06 pesos, respectively, per liter. And there were no additional incentives for importers and refiners.

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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