LatinNews Daily - 01 September 2026

*Mexico’s government led by President Claudia Sheinbaum and representatives of the majority of gas stations and suppliers have formalised the extension of the national strategy to stabilise the price of gasoline at less than M$24 (US$1.41) per litre and the price of diesel at less than M$27. Sheinbaum posted to social media that “we renewed the voluntary agreement with gas station owners to combat inflation and high prices in support of the economy and wellbeing of Mexican families”, confirming an agreement first announced by the energy ministry (Sener) on 20 August. The Sener press release informed that “in border areas, the price of these fuels will be even lower, due to the application of a Value Added Tax (VAT) rate of 8%”. The strategy will continue until February 2027, with the Mexican government and the country’s oil sector hoping to “guarantee the certainty and stability of fuel prices”, which the statement said is “essential” for the “mobility, development and economy of Mexican families”.  The renewal follows additional agreements made in April between the government and the oil sector that implemented further actions to reduce fuel prices such as tax reductions on gasoline and diesel, among other measures.