Gasoline prices in Mexico to climb in 2016

Gasoline prices in Mexico to climb in 2016

Oct 26, 2015

Despite the fact that Mexico has the eighteenth largest oil reserves in the world, and is the fourth largest oil producer in the Western Hemisphere just behind Venezuela, Canada, and the United States; Mexican motorists will have to pay between $3.52 and $4.58 pesos (USD $0.21 to $0.28) per liter of gasoline or diesel they buy, in addition to the current price of the fuel, beginning Jan. 1, 2016.

The special tax that the House of Representatives approved last week as part of the 2016 tax rules releases fuel prices to supply and demand and the establishment by the federal government of a monthly cost reference to which such a tax would be added.

According to the measure, which was sent to the Senate for ratification, consumers should face an additional flat rate of 4.16 pesos per liter of Magna gasoline, of 3.52 pesos per liter of Premium and 4.58 pesos per liter of diesel.

Photo: reikal.com.mx Pemex gas pump prices to rise.

Photo: reikal.com.mx
Pemex gas pump prices to rise.

The increase in fuel prices is due to a significant variation contained in this opinion on the dollar, which rises from 15.90 to 16.40 pesos per dollar, and the tax to be charged on gasoline will be stable throughout the year, as it is updated annually.

Source: yucatan.com.mx

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