Femsa Opens Oxxo-Branded Gas Station, Taking on Pemex
- Oxxo Gas inaugurates first branded fuel station in Mexico
- Company will still sell Pemex gasoline for the time being
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Fomento Economico Mexicano S.A.B., the owner of the Oxxo chain, is the latest player to enter Mexico’s private fuel market, leveraging its huge presence in Mexico’s retail sector to compete with state-owned Petroleos Mexicanos.
The Monterrey-based company inaugurated its first fuel station Wednesday under the Oxxo Gas brand in San Pedro Garza Garcia in northern Mexico, part of the greater Monterrey metropolitan area. The station had previously been branded as Pemex, the only company in Mexico’s fuel retail market for almost eight decades.