Last updateFri, 15 Jul 2016 8am

Gasoline price creeps up July 1

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).

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