Riviera Maya, Q.R. — The price of a liter of gasoline will go up with the arrival of the New Year. On January 1, 2025, residents can expect to pay as much as 4.3 percent more for a liter of gas.
President Claudia Sheinbaum says the increase is not a “gas price hike” as speculated, but is an increase in relation to the update of the Special Tax on Production and Services (IEPS).
Sheinbaum says allegation of a New Year gas price hike is false and that the upcoming increase is in relation to the Especial sobre Producción y Servicios (IEPS), which increases prices by closing inflation rates.
“It is false, a gas price hike. The increase comes from the IEPS law which establishes that the price increases in accordance with the inflation of the previous year. Inflation is closing at more or less 4.3 percent, so that is the increase. It is a law that has been in place for a long time,” she explained.
The President of Mexico assured that price increases should be limited solely to inflationary variations.
“We are interested in controlling, or more than controlling, in preventing the price of gasoline from increasing due to some type of speculation, so that is why we are doing the analysis. The Secretary of Energy, Luz Elena González, is already meeting with gas station owners to prevent an increase resulting from some type of speculation,” he said.
Sheinbaum said during his recent travels, he has noticed high prices of around 26 pesos per liter at many Mexican gas stations.
On December 27, the Ministry of Finance and Public Credit (SHCP) announced the update of the IEPS rates for 2025. The update will include an increase not only on gasoline, but also on alcoholic and sugary beverages and cigarettes, among other products.
Starting January 1, 2025, each liter of magna, premium and diesel in Mexico will be subject to three IEPS rates. The rates will include the federal rate, the state rate and the CO2 emission rate. As of January 1, 2025, all three will reflect the new updated rates.
On December 30, 2024, the average price for regular gasoline in Quintana Roo was 25.1 pesos per liter or $4.59 US per gallon, while for premium it is 26.2 per liter or $4.79 US per gallon and 26.9 per liter or $4.92 per US gallon for diesel.
The municipalities with the highest average price in Quintana Roo are Lázaro Cárdenas for regular gasoline with 25.7 per liter while for premium, it was the municipality of Isla Mujeres charging 26.5 pesos per liter, and in the case of diesel, the municipality of Lázaro Cárdenas with 27.4 per liter.
The municipalities with the lowest average price is the municipality of Bacalar for regular gasoline with 23.6 per liter while for premium, it was the municipality of Othón P. Blanco with 24.6 pesos per liter, and in the case of diesel, the municipality of Bacalar charging 25.6 pesos per liter.
