Government agrees with gas stations to cap Magna prices

The federal government reached an agreement with the gasoline industry to cap the price of Magna fuel at 24 pesos for the next six months .

According to Bloomberg , the measure will be announced this Thursday by President Claudia Sheinbaum and business leaders in the sector.

This is a voluntary agreement and the states in the northern border zone of the country would be exempt from the measure.

Gas station owners who join will do so voluntarily and will be able to cap the price of Magna at 24 pesos or less for up to six months.

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The draft document entitled National Policy to Promote Gasoline Price Stabilization for the Benefit of the People of Mexico states that business owners who enter into the agreement will cap their profit margin at two pesos per liter.

For its part, Pemex would be required to establish a standard wholesale price for the country and would absorb the costs of transporting fuel to offer the same price to all companies in the sector.

Sheinbaum announced a plan to reach an agreement with gas stations to cap the price of Magna

Since the beginning of February, President Sheinbaum announced her plan to promote an agreement with gas stations and stop fuel price increases. "We must make an agreement before closing gas stations. It cannot be that a gas station owner charges 6 pesos for each liter," she said at the Mañanera del Pueblo.

He said he hoped that "all the service stations and distributors would support us."

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Among the president's campaign promises is that energy prices will not rise above inflation, so the agreement with gas stations seeks to keep a liter of Magna at 24 pesos for the next six months.