Treasury Raises Additional Diesel Subsidy to 2.63 Pesos per Liter

The Ministry of Finance and Public Credit (Secretaría de Hacienda y Crédito Público) raised the additional diesel subsidy from 2.35 to 2.63 pesos per liter for the period from October 24 to 30, 2026, and kept the 100% stimulus on the Special Tax on Production and Services (IEPS), according to the decree published in the Official Gazette of the Federation (DOF) on October 23. Total fiscal support for diesel thus adds up to 9.99 pesos per liter, the highest figure recorded in 2026, according to El Economista.

Diesel has now gone seven consecutive weeks with a zero IEPS rate, according to Bloomberg Línea, which puts the uncollected tax at 7.3 pesos per liter. Without the support, the fuel would cost 36.99 pesos per liter; the national average price was 27.00 pesos on October 25, according to PETROIntelligence data cited by El Economista.

The decision is published against a backdrop of elevated international prices. Brent crude closed on October 23 at 116.72 dollars per barrel, its highest level since April 29, and West Texas Intermediate (WTI) at 103.27 dollars, after a weekly rise of 6% and 2.3%, respectively, according to El Economista. This Monday, October 26, OilPrice reported Brent at 114.42 dollars and WTI at 100.97 dollars, levels far above the roughly 60 dollars seen at the end of 2025. The same report cites at least 28 attacks on vessels in the Strait of Hormuz during October, the highest monthly figure on record.

The adjustment is not uniform across fuels. For the same week, the stimulus for Magna gasoline was cut to 3.24 pesos per liter and for Premium to 2.88 pesos, so that motorists pay 3.46 and 2.78 pesos in IEPS, respectively, according to El Economista. The agreement to keep diesel below 27 pesos and Magna below 24 pesos also remains in force, as reported by Bloomberg Línea.

The next data point to watch is the DOF decree that Treasury publishes every Friday for the week of October 31 to November 6, with the evolution of Brent as the market reference.

This article was written with the assistance of artificial intelligence from verified sources and reviewed by a human editor before publication.