LatinNews Daily - 23 April 2026

*Mexico’s government led by President Claudia Sheinbaum and the country’s oil sector have agreed to maintain the price of diesel at a maximum of M$28 (U$1.60) per litre. The announcement follows a meeting held yesterday by President Sheinbaum, along with authorities from the energy (Sener) and finance (SHCP) ministries, Mexico’s consumer protection agency (Profeco), Mexico’s state-run oil company Petróleos Mexicanos (Pemex), the security, energy, and environment agency (Asea), and national guard (GN), as well as business leaders from the sector. The announcement, which follows an agreement last month to keep the price of petrol at below M$24 per litre, is in response to the rise in fuel prices due to the war in the Middle East. According to a SHCP statement, those present also agreed to implement additional actions to reduce fuel prices, with the business leaders to continue supporting the measures promoted by the Sheinbaum government by increasing the number of gas stations across the country involved in these efforts. The government also agreed to “maintain the application of IEPS incentives” – an allusion 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 several weeks. The statement adds that the government is also seeking to keep down costs related to the sector by working on reducing commission for payments made with cards, vouchers, and electronic payment methods, among other things.

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