They agree to lower diesel to less than $28.30 per liter

The federal government agreed with the gas sector to reduce the price of diesel below 28.30 pesos per liter, an amount lower than the amount announced in recent days by President Claudia Sheinbaum Pardo.

“In the international context of increasing prices for oil and derived products, including fuels, companies in the gas sector and the federal government have established a temporary agreement with the objective of reducing the price of diesel over the next few days throughout the country,” said the Ministry of Energy, the National Energy Commission, Petróleos Mexicanos and the Ministry of Finance and Public Credit.

This pact, similar to the one established to keep gasoline below 24 pesos per liter, occurs after diesel has reached 31 pesos per liter in recent days at some service stations in the country.

Diesel is used mainly for buses and the transportation of goods, so it has a direct impact on the economy of households in Mexico and on the costs of companies.

The US will plant less corn due to rise in fuel prices

American farmers plan to plant less corn and more soybeans this year, the Department of Agriculture (USDA) reported, because the war with Iran is causing higher prices for fertilizers and fuel.

The rise in fertilizer prices adds to other difficulties that farmers face, including low grain prices, increases in other inputs and uncertainty about Chinese demand for American crops.

Gasoline prices in the United States exceeded an average of $4 per gallon (3.78 liters) for the first time since 2022 – following the Russian invasion of Ukraine – while the war with Iran causes fuel prices to continue to skyrocket around the world.

According to the American Automobile Association, the national average for a gallon of regular gasoline is $4.02, more than a dollar above what it cost before the war.