AMLO government eliminates subsidy for gasoline and diesel

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The elimination of IEPS from gasoline will be in force during the period from February 1 to 7, 2020, according to the Official Gazette

The Ministry of Finance and Public Credit (SHCP) eliminated the tax incentive to the Special Tax on Production and Services (IEPS) for Magna, Premium and Diesel

The foregoing shall apply to automotive fuels during the period from February 1 to 7, 2020, according to the Official Gazette of the Federation (DOF).

gasoline price

This is the first week of the year that the three fuels remain without fiscal stimulus because for gasoline of less than 91 octanes (Magna) it was still 1.11 percent from January 25 to 31.

Therefore, the agency indicated that motorists must pay 4.95 and 4.18 for each liter they buy from Magna and Premium gasoline (greater than or equal to 92 octane), respectively.

The Treasury added that each liter of Diesel will have a quota of 5.44 pesos from this Saturday and until next Friday.

Source: notimex

The Mazatlan Post