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Mexico Extends Fuel Tax Suspension as Gas Prices Top 23.4 Pesos

Persistent global crude shortages have pushed pump prices higher as consumers absorb full fuel taxes.

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Overview

  • The federal government has withheld IEPS subsidies on gasoline and diesel for 14 consecutive weeks, leaving drivers to pay full tax rates until at least July 18.
  • National morning benchmarks on July 14 recorded gasoline Magna at 23.443 MXN/L while Premium and diesel averaged 25.635 MXN/L and 26.270 MXN/L respectively.
  • Crude oil has climbed 6.3% over the past three weeks with WTI rising 2.2% to $68.45 per barrel after the IEA warned of a tighter global market.
  • The CRE and Profeco publish daily pump price updates and PETROIntelligence provides morning benchmarks to enhance pricing transparency.
  • For the week of July 13–19, LP gas in Mexico City and Estado de México ranges from 10.64 MXN/L to 19.71 MXN/kg, reflecting regional distribution cost variations.