The analysis of this study examines the impact of an increase in the prices of gasoline and electricity on the Mexican economy. The analytical approach used consists of a general equilibrium model composed of 13 producing sectors, 14 consuming sectors, 4 household categories classified by income and one government, The effects of the recently implemented increase in the price of gasoline and electricity of 26.2% on prices and quantities are examined, The results are revealing, For example, the consequences of an increase in the prices of gasoline and electricity would be a decrease in output by all producing sectors of about 0.31%, a fall in the consumption of goods and services by about 0.56%, a reduction in total utility by 1.29% and higher revenue for the government of 0.31%, When subjected to a sensitivity analysis, the results are reasonably robust with regard to the assumption of the values of the substitution elasticities.