Mexico: Gas stations market to invest $15 billion pesos in 2020

The target is to open 175 fuel stations in more than 170 municipalities that do not yet have their own site.

The Mexican gas station sector will invest $15 billion pesos in 2020 with the goal of opening about 175 new service stations in the country. Between January and October 2019, 268 gas stations were opened, according to the Energy Regulatory Commission (CRE).

The president of the National Organization of Petroleum Retailers (Onexpo), Roberto Díaz de León, explained that these openings will mean an increase of 3% in the number of operational service stations.

"We have thoroughly reviewed the analyses of business feasibility and definitely placing supply generates demand, so although we can not tell our partners how to operate, we do believe that reaching places where there are no stations will impact in favor of their businesses and the national economy," he said.

Diaz de Leon assured during the Onexpo 2019 Summit that, in addition to the opening of new gas stations, investments will also be aimed at improving existing establishments with lighting, staff training, technology and better equipped facilities.

Since the opening up of the Mexican market to private companies in 2017, there are now 57 private companies operating in the country, with a share of 21%. Private companies account for a total of 3,472 service stations, 28% of the national total.