Gas subsidy cost US$282 million a week

President Claudia Sheinbaum reported that the subsidy to prevent fuel price hikes costs the treasury US$282 million per week. In light of this, she demanded that gas station owners “not take advantage of the situation,” given that the cap on diesel prices has become a dead letter at various gas stations: under a voluntary agreement, it was to be sold at a maximum of US$1.59, but it costs up to US$0.34 more, according to records from the National Energy Commission (CNE).

During her morning press conference, the president emphasized that the Federal Consumer Protection Agency (PROFECO) will sanction gas stations that sell Magna gasoline for more than US$1.35 per liter.

“This is a very important form of support being provided to Mexican families. And it is unacceptable for gas station owners to take advantage of the situation and raise prices when they are being supported,” she criticized.

The mayor asked PROFECO to intensify inspections and publicly shame non-compliant stations by placing banners at their facilities warning that they are selling fuel above the agreed-upon price, as was done during the six-year term of Andres Manuel Lopez Obrador.

Finally, Sheinbaum pointed out that a liter of Magna gasoline should cost US$1.86, but thanks to the subsidy, it remains below US$1.35; she therefore urged fuel consumers to choose “better gas stations” that offer fair prices.