PROFECO Urges Fuel Sector to Avoid Price Hikes

As oil prices rise, the Mexican government is striving to decrease fuel prices, while the Federal Consumer Prosecutor’s Office (PROFECO) has called on the fuel sector to avoid price hikes due to a lack of tax incentives to lower fuel prices. This move is part of a broader strategy to maintain economic stability and protect consumers from the volatility of the global oil market.

PROFECO emphasized that the fiscal incentives for fuels align with the behavior of international reference prices. Despite the absence of tax incentives for fuels, PROFECO highlighted that average fuel prices have remained stable. The agency reiterated its request to gas station operators to refrain from raising prices, reflecting the stability of international oil prices.

From May 10 to May 16, PROFECO responded to 335 complaints and conducted 374 verification visits to gas stations. During these inspections, two stations refused verification, two prevented the placement of immobilization seals, and seven were found to have irregularities in delivering the correct amount of fuel, resulting in the immobilization of 10 pumps.

“Maintaining fair fuel prices is crucial for economic stability,” PROFECO stated, urging the fuel sector to cooperate in this initiative to prevent undue financial pressure on consumers.

This call for stability comes at a time when the global oil market is experiencing fluctuations, prompting the Mexican government and regulatory bodies to take proactive measures to ensure consumer protection and market fairness. By urging fuel stations to keep prices stable, PROFECO aims to mitigate the impact of global price changes on the domestic market.