Of these four concepts, the Federal IEPS was the highestdespite having a subsidy or discount on its amount, for five days, during the week.
The unsubsidized rate for Magna gasoline is 6.17 pesos per liter, and when the price of this product increases on the international market, the Treasury gives it a discount. That is why from Monday, May 13 to Friday, May 17, this rate was 6.08 pesos per liter, according to information from the Treasury.
The objective of granting discounts to the IEPS rate is to offset the price escalation when oil prices rise (especially in the United States, Mexico’s main fuel supplier). On the other hand, when prices remain stable or do not have large increases, the Treasury collects the IEPS quotas in full or with small discounts, which helps collect tax revenue.
These quotas change every week and are published in the Official Gazette of the Federation. They have a maximum amount that is published in December of each year and apply the following year.
VAT+State IEPS+IEPS for CO2
After VAT, before taxes, this amount was close to 3.26 pesos per liter, according to information from Caraiva y Asociados-León & Pech Architects.
This is followed by the state IEPS which is 54.50 cents, and for CO2 emissions which is 16.36 cents, for these there are no discounts or subsidies.
The other costs that make up the price of this fuel are refining, which averaged 6.79 pesos, the price of crude oil 5.2 pesos, and logistics costs of 2.2 pesos per liter, according to Caraiva y Asociados-León & Pech Architects.
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