Home Business-newBusiness Despite deregulation, don’t expect gasoline prices to decline yet

Despite deregulation, don’t expect gasoline prices to decline yet

by Yucatan Times
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This is because in 2018, Petróleos Mexicanos will continue to distribute 99% of the fuels in the country…

MERIDA – In Yucatan on Thursday Nov. 30, Day 1 of deregulated gas prices, the Magna fuel was selling at $15.58 pesos per liter and the Premium fuel at $17.29 pesos, according to www.gasolinamx.com website.

It will not be until 2019 that deregulation of gasoline prices will be translated as a benefit for the pockets of consumers, especially since currently in Yucatán, 99% of the fuel will continue to be distributed by Petróleos Mexicanos (Pemex).

The general secretary of the Confederation of National Chambers of Commerce, Services and Tourism (Concanaco), José Manuel López Campos, recalled that in Mexico, 50% of the fuel price is due to taxes, including: IVA (Tax on Value Added) and the IEPS (Special Tax on Products and Services).

“At the moment there are no conditions for price competition that can be reflected in the consumer’s pocket, because today 99% of the fuel is provided by Pemex, they import it and distribute it to the whole country,” he remarked.

He added that Pemex is also the only provider of foreign and national brands that sell related products or even fuel, and therefore it will take time for these companies to get new providers to be able to sell different and cheaper gasoline.

“It will take time for them to import gasoline, it is a process that has already started, probably by 2019 we will see a real diversification of fuel brands, different from those distributed by Pemex, and with that, price differences will start to be reflected,” he said.

He commented that in 2018 from the second semester Mexico will start to have in the market products other than Magna and Premium gasoline, and will be very different from those currently sold by Petróleos Mexicanos.

Source: www.sipse.com/milenio_novedades

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