López Obrador did not elaborate on the announcement.
The Secretary of the Treasury publishes weekly the Special Tax on Production and Services (IEPS) applicable to fuels such as Magna, Premium and diesel gasoline.
The president called on gas station owners not to “abuse” and give high prices as is the case in other countries.
“With money from the people we are allocating resources, they do not pay the IEPS -which is a subsidy- so that gasoline is at a fair price,” he said in his morning conference.
The president pointed out that this subsidy has benefited Americans who live on the border and buy gasoline in Mexico.
“With what we are obtaining from the surplus of crude oil prices, it is enough for the gasoline subsidy. It is enough for us to sell cheaper gasoline,” he assured.
López Obrador said that they still have a profit margin and that a part will be used to distribute among the states since they are “participatable income.”
He even announced that States such as Nuevo León and Jalisco are going to have increases in their participation of 10,000 million pesos (mdp). For the rest of the States, the increase will be between 8,000 and 10,000 million pesos.
He added that the United States has not asked him for an increase in the production of barrels of oil and that he launched a plan to take advantage of the high price of oil.
Currently, López Obrador detailed, one million barrels of oil are being refined and the president estimates that they will be reduced to 850,000 barrels.
“We are taking advantage of the fact that the price of crude oil is high and we are in the process of remodeling the refineries and dedicating time and money to the rehabilitation of the existing ones,” he said.
The president reiterated that high prices should be taken advantage of to remodel the facilities and even build a new one to achieve energy self-sufficiency.
“We are not ruling out, we are about to resolve, the construction of a coking plant in Salina Cruz,” he said.
With information from Reuters
