(Photo: SIPSE)

Last weekend, the price of gasoline and diesel in Mérida continued to rise, and now they are, on average, more expensive than at the start of the year.

On Monday Feb 11, the lowest cost of Magna gasoline was 17.99 pesos per liter, when in the last week of January the price was set at 17.10 pesos at most service stations.

At the beginning of February, the Magna recorded its first increase of the year, reaching 17.85 pesos per liter, to February 3 the price was 17.90 pesos, the price went up five cents in just 48 hours.

Meanwhile, the liter of Premium gasoline exceeded the 19 peso mark, registering this Monday a price between 19.05 and 19.50 pesos, depending on the gas station. The highest level last year was in November with 20 pesos per liter. At the beginning of the year, the highest cost was 18.30 pesos.

As for diesel, which had remained stable until two weeks ago, the cost of the liter already exceeded the barrier of 21 pesos, and after selling at 20.64 pesos, the price reached 21.30 pesos on Monday Feb. 11.

On December 28 last year, the Ministry of Finance and Public Credit (SHCP) published that from January 1, weekly tax incentives would be applied to the Special Tax on Production and Services (IEPS) on fuels allegedly in order to avoid significant increases in gasoline.

The Energy Regulatory Commission (CRE) reported that this upward price variation is mainly due to the law of supply and demand, it doesn’t have to do with the price of a barrel of oil, the behavior of the international markets or  and the fluctuation of the peso against to the US dollar.

The federal agency considered that this week fuel prices could stabilize, due to adjustments in the international market.

The consumer who supplies 30 liters of Magna gasoline per week, paid an average of 540 pesos this Monday, while the same volume of Premium gasoline cost 571 pesos and in the case of diesel the figure goes up to 639 pesos.

TYT Newsroom with information from SIPSE



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