Treasury Keeps Full Diesel Subsidy After Record $6.29 in the U.S.
Diesel in the United States set a record of $6.285 per gallon and the Treasury kept Mexico's diesel IEPS quota at zero for a second week.
On-highway diesel in the United States averaged $6.285 per gallon in the week of September 14, 2026, a record for the series published by the Energy Information Administration (EIA) and a 68% jump from the $3.74 of a year earlier.
The Ministry of Finance and Public Credit (SHCP) responded on September 18 by keeping the Special Tax on Production and Services (IEPS) quota on diesel at zero for the second consecutive week. The pressure comes from the U.S. market: the national average tracked by GasBuddy reached $6.43 per gallon on Friday, September 18, up from $5.61 at the start of the month. "Every truck, every delivery, every package, every purchase has become more expensive," said Patrick De Haan, the firm's head of petroleum analysis. Mexico is the most exposed market: in 2025 it was the top destination for U.S. distillate exports, with 220,000 barrels per day, 17% of the total, according to the EIA. That price is set in the U.S. market and flows through to freight transport and agricultural costs.
The decree published on September 18 in the Diario Oficial de la Federación sets, for the week of September 19 to 25, an IEPS quota of 0.00 pesos per liter of diesel, with 7.36 pesos left uncollected, plus a complementary stimulus of 1.8361 pesos per liter, according to Expansión. For gasoline, the stimulus reaches 62.70% on Magna (4.21 pesos per liter) and 59.12% on Premium (3.34 pesos). The maximum prices under the voluntary agreement with gas station operators remain at 24 pesos per liter of Magna and 27 pesos for diesel. On the supply side, U.S. distillate inventories closed August 14% below their five-year average, according to the EIA.
The next data point arrives on September 22, with the EIA's weekly price report, and on Friday the 25th, with the IEPS quota that the Treasury sets in the Diario Oficial de la Federación for the week of September 26 to October 2. Both set the pace of diesel costs in Mexico.
This article was written with the assistance of artificial intelligence from verified sources and reviewed by a human editor before publication.
Sources
- Gasoline and Diesel Fuel Update
- SHCP mantiene subsidio total al diésel e incrementa estímulos a gasolinas Magna y Premium
- Cada compra de comestibles se ha vuelto más cara, dice un analista mientras el diésel en EU se acerca a los 6 dólares
- U.S. exports of major transportation fuels in 2025 were about the same as in 2024
- Hacienda baja impuestos a gasolinas, diésel cero IEPS
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This article was drafted with AI assistance from verified sources and reviewed by a human editor before publication.