Mexico’s Ministry of Finance has increased fiscal stimuli for fuel to combat rising pump prices, as gasoline and diesel costs maintain a steady upward trajectory. Despite government efforts to stabilize the market, national averages remain under significant pressure.
Data from the industry platform PetroIntelligence shows that regular gasoline averaged 23.70 pesos per liter as of Friday. Premium gasoline reached an average of 28.18 pesos per liter, while diesel prices held steady at 28.79 pesos at service stations nationwide.
Price caps under pressure
These rising costs follow a period of intense global market volatility. Since February 28, when conflict between U.S.-backed forces and Iran began to disrupt energy markets, fuel prices have surged. At that time, regular gasoline cost approximately 23.24 pesos, premium was 25.62 pesos, and diesel was 26.23 pesos per liter.
In early March, the federal government reached a voluntary agreement with the gas station sector to cap regular gasoline prices at 24 pesos per liter. Officials implemented this measure to curb inflation and protect consumers from the rapid price hikes seen earlier this year.
Although the original agreement was intended to last only six months, the government has renewed the pact twice. The most recent extension occurred on March 11, as the ongoing geopolitical conflict continues to drive energy costs higher. The fiscal stimulus adjustments serve as the latest attempt by the Treasury to absorb some of the costs that would otherwise fall directly onto the consumer.
