The gasoline and diesel prices will increase again on Wednesday, a change not in favor of the people.
Both diesel and gasoline prices will see an increase of between seven to ten cents per liter. A significant portion of the gasoline and diesel prices goes to the government through excise taxes. The excise tax on gasoline and diesel prices is quite high. The government takes a substantial portion, and the profit margin for gas stations is minimal.
In addition to excise taxes, the government levies two additional charges on the gasoline price. The 7% BBO of FMSA for the Citgo gas station tank and another 7% at the pump for your vehicle’s tank. Apart from high excise taxes, the government earns an additional 14% on the selling price.
Ultimately, a significant percentage of the total selling price at the pump goes straight to the government. People can save a little by filling up their tanks before Tuesday night, just before midnight.
