Gasoline prices increased Friday, July 1 for the fourth time in 2016, with Magna now retailing at 13.40 pesos a liter, 24 centavos higher than in June.
Premium gas will increase by 34 centavos to 14.03 pesos a liter. Diesel will remain at 13.77 pesos.
At the end of last year, the Mexican Congress approved a system that sees pump prices fluctuate in tune with “international oil prices” inside a “band” that will allow maximum hikes or decreases of three percent in either direction.
The price of Magna is still slightly lower than in December 2015, when it cost 13.57 pesos a liter (Premium was 14.38 pesos).