Home Business-newBusiness Gasoline tax is higher than the price of each liter.

Gasoline tax is higher than the price of each liter.

by Yucatan Times
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MEXICO (ONEXPO) – According to the National Organization of Petroleum Exporters (Onexpo), in Mexico, the gasoline tax knows as “STPS” -Special Tax on Production and Services- exceeded the price of each liter in the Gulf of Mexico.

According to declarations of Roberto Díaz de León, president of Onexpo, in some days, the value of the tax is more than the price of gasoline. As an example, in the ports of Madero, Pajaritos, Veracruz, Tuxpan, and Dos Bocas, the price of gasoline reached 2.44 pesos per liter. In contrast, the total STPS was 5.44 pesos per liter. These two prices were recorded on March 23.

What has caused the collapse of the cost of crude oil is the health crisis that the world is experiencing due to the coronavirus covid-19. However, this is not the only factor, since the drop in demand resulting from the halting of entire cities.

This drop in the price of gasoline is due to the price war between Saudi Arabia and Russia. This occurred after Saudi Arabia, leader of the Organization of Petroleum Exporting Countries (OPEC), was unable to reach an agreement with Russia to cut oil production. The hostilities led to the collapse of its price worldwide, which directly influences the final cost of gasoline.

In Mexico, sales at gas stations have fallen by between 15% and 20%. In the United States, the drop has been 40%. According to Diaz de Leon, the trend may continue in the coming days. In this regard, President Andres Manuel Lopez Obrador said that the price of regular gasoline should not exceed 17 pesos per liter.

Currently, according to the president of Onexpo, Roberto Díaz de León, the average price is 18.60 pesos.

The Yucatan Times

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