The federal government of Mexico confirmed on Thursday that it reached a historic agreement with the nation’s gas stations to cap the price of regular-type Magna gasoline (under 91 octane) at a maximum of 24 pesos per liter. The cap is the equivalent of $4.46 US Dollars per gallon, with the current average price per gallon in the United States at $3.16 dollars per gallon.
Announced at the National Palace, the policy was formalized with representatives from more than 20 gas station businesses, Pemex Director Víctor Rodríguez Padilla, and Secretary of Energy Luz Elena González in attendance. According to government officials, Pemex will implement a national wholesale price for regular gasoline at its Storage and Distribution Terminals (TAR), helping ensure that consumers are charged no more than 24 pesos per liter at the pump.
“Today we signed a historic agreement with gas stations to voluntarily establish a maximum price of 24 pesos for regular gasoline. We are protecting the economy of families,” President Claudia Sheinbaum wrote on her official X (formerly Twitter) account. Her post was accompanied by a photograph depicting the signing ceremony at the National Palace.
The government states that the policy will remain valid for six months from the date of its signature. Over this period, authorities plan to conduct periodic evaluations to measure effectiveness. Should adjustments be necessary, the government will consider making further changes or taking additional measures based on the collected data.
In a prepared statement, officials emphasized that the primary aim is to safeguard consumers against rising fuel prices and to stabilize costs in Mexico’s energy market. Pemex’s participation is considered key to achieving the policy’s goal of keeping the pump price for Magna gasoline below 24 pesos per liter throughout the country.
