MEXICO CITY — The Mexican government has confirmed that the price of gasoline will remain fixed at 24 pesos per liter, upholding an agreement initially reached on February 27 of this year. The pact, which was originally set to be valid for only six months, has been extended to continue protecting family economies from price fluctuations.
Strategy and Fiscal Support
The implementation of this price stabilization plan requires the state oil company, Pemex, to accept a reduction in its profit margin. This lower percentage of profit will be reflected at its distribution terminals.
The Secretariat of Finance and Public Credit (Hacienda) will be the institution responsible for absorbing the associated costs to maintain the price cap for gasoline. Other agencies will be tasked with monitoring compliance to ensure the agreed-upon prices are respected.
The Federal Consumer Prosecutor's Office (Profeco) and the Tax Administration Service (SAT) will be responsible for conducting weekly verification of fuel costs. This oversight is intended to guarantee adherence to the established agreement and prevent potential abuses by gas stations.
Private Sector Backs Fixed Price
The initial meeting to establish the agreement was attended by various business leaders, who showed their support for the gasoline price initiative. These attendees were the owners of the various gas station chains operating in the country.
In this manner, they demonstrated their support and total agreement regarding the matter, in addition to confirming their collaboration. The move seeks total transparency and conformity from all parties involved in the pricing of gasoline.
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