Mexico keeps diesel tax at zero as fuel revenue erodes

According to the decree in the Official Gazette (DOF), the stimulus that week is 64.31%, or 4.3091 pesos per litre, for gasoline below 91 octane and 71.29%, or 4.0333 pesos, for 91 octane and above. The remaining tax on gasoline is 2.3910 and 1.6246 pesos respectively. The Rio Times says the rates are reset every week and diesel also receives a complementary credit of 1.09 pesos per litre. At Banco de México's 9 October rate of 18.1128 pesos, 7.36 pesos is about $0.41.

The bill is leaving a growing mark on the public finances. El Diario, citing Reforma on 29 September, reported that the stimulus has been in place since March 2026 to limit the pass-through of the Middle East war to fuel prices. Tax administration data show IEPS collected on gasoline and diesel between March and July fell 9% in real terms to 167,031 million pesos, with July alone down close to 33% in real terms. Energy consultant Ramsés Pech estimates the total cost at about 226 billion pesos; the figure could not be verified because the method and period were not disclosed.

Physical supply also depends on imports. EIA data cited by the Rio Times show US distillate exports to Mexico, mostly diesel, at 288,000 barrels a day in June and 199,000 in July. The 500,000 tonnes of diesel Russia released to the market on 10 October equals about 19 days of US shipments to Mexico at the July pace. As of the morning of 11 October, neither the Mexican government nor Pemex had commented on the decision.