Increase Mexican Fuel Prices

[qtla9111]

Our illustrious president has promised.that there will be no increase in fuel prices. That said, he never claimed that wouldn't include increases in IEPS (sin tax) for gasoline, diesel, cigarettes and liquor. He is intent on reviving the failing PEMEX and will throw as much money as possible at it. Current PEMEX debt is 102 billion dollars and he needs an additional 108 billion dollars to bring the existing five refineries up to par and to build his new claim to fame, the refinery Dos Bocas.

Here are the increases for 2020:

En el caso de la Magna, el IEPS tendrá un incremento de 2.911%, respecto del 2019; mientras que la Premium de 2.956% y el diésel de 3.030 por ciento.

Magna 2.911%

Premium 2.95%

Diesel 3.030 %

Feliz Año Nuevo!!!!

[iguana07]

Pemex north side of PV next to Home Depot. We are in Lo De Marcos.

[playaboy]

Talleyho69 wrote:
wow, relatively speaking, a huge difference.

Interesting the differences when we use to have none!

I travel around Mexico quite a bit. I use an app called Gasolina MX. It uses GPS for my location. It lists the stations and prices nearby.

[Talleyho69]

wow, relatively speaking, a huge difference.

Interesting the differences when we use to have none!

[peachland]

We are in Manzanillo,best price here is 19.00

[Talleyho69]

Where are you? Was it a Pemex?

The input on the fuel prices is greatly appreciated.

[iguana07]

Here yesterday we paid 19.96 for Magna

[Talleyho69]

Magna here yesterday was 20.44, at a Pemex in Zihuatanejo on highway 200.

[qtla9111]

A lot depends on where you buy your fuel. Every Monday on the president's daily two-hour rant of which I watch everyone, there is a presentation from PROFECO (Mexico's BBB) that lists the stations with the highest and the lowest prices. This week, Costco Tabasco came in with a price of 17.96 per liter (Magna) and the highest was almost 23 pesos per liter (Magna).

In many cases, to remain competitive, franchise owners are absorbing the cost.

For those not familiar with PROFECO, apart from consumer complaints, they also list all products for sale in Mexico with the highest and lowest prices in the section of their website called, "Quien Es Quien". Very useful.

[playaboy]

It has been 2 weeks since the tax increase on fuel went into effect. I have not noticed any increase in prices. Do you think the dealers absorbed the increase?

[moisheh]

When will they give up on Pemex
Technically it is bankrupt.
Moisheh

[playaboy]

Dam, when you do the math for diesel it comes out to a $0.13 USD a gallon increase.

I am going to fill up manana.

[qtla9111]

PEMEX debt:

Pemex Debt

El presidente mexicano Andrés Manuel López Obrador heredó a Pemex con 106,000 millones de dólares de deuda financiera cuando asumió su mandato el 1 diciembre de 2018. Su predecesor Enrique Peña Nieto había recibido la petrolera estatal con 61,000 millones de dólares en deuda financiera cuando asumió su cargo el 1 diciembre de 2012.

Mexican President Andrés Manuel López Obrador inherited a Pemex with 106 billion dollars of financial debt when he took office on December 1, 2018. His predecessor Enrique Peña Nieto had inherited the state oil company with 61 billion dollars in financial debt when he assumed his position on December 1, 2012.

[Lwiddis]

Last construction estimate I heard was 8 billion dollars.