LatinNews Daily - 01 April 2026

*Mexico’s energy ministry (Sener) has announced that the government led by President Claudia Sheinbaum has reached an agreement with the oil sector to keep the price of petrol below M$24 (US$1.34) per litre. Sener stated that under the “temporary agreement” the government will also aim to reduce the price of diesel over the coming days throughout Mexico given “the current international context of rising prices for oil and various petroleum products, including fuel”, due to the war in Iran. As with the government’s regular fuel strategy, the agreement calls for the voluntary participation of gas station companies, which will be reflected in lower prices for fuel “as long as operational conditions related to inventories, logistics, distribution, terminal prices, and IEPS incentives allow”. The incentives refer to reductions to the special tax on production and services, known as IEPS, on gasoline and diesel that have been in place for the past few weeks.

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