The Treasury and Public Finance Secretariat (SHCP) announced its decision to postpone the date for fuel price increases for one week in order to give to allow a window of time to raise subsidies on gasoline and diesel prices.
According to data published in the Official Gazette, subsidies increased 0.55 pesos ($0.02) for Magna (low-octane), 0.10 for Premium (high-octane) and 0.45 for diesel. This decision was made in response to the high volatility international markets currently experience due to economic uncertainties such as currency exchange rates.
Source: The News
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