“Three gas stations in Tijuana have been selected to be the first in Mexico to sell gasoline and diesel made by San Antonio-based refining company Andeavor Corp.”
“Last month, Andeavor (NYSE: ANDV) announced that it had landed a supply deal with Tijuana-based Professional Fuels Solutions SA de CV, or Profuels. Owned by Tijuana-based convenience store company Grupo ECO, Profuels supplies regular unleaded, premium and diesel to 150 Eco gas stations in northwest Mexico.”
“Profuels spokesman Rodrigo Rodriguez told the Business Journal that Grupo ECO plans to switch all of its gas stations in the states of Baja California and Sonora over to the ARCO brand but the change will begin with a pilot project at the three Tijuana gas stations over the next few weeks.”
“”If everything works perfectly well, we’ll open them in the two states that we operate,” Rodriguez said.”
“As part of its 2014 energy reforms, Mexico is switching over its fuels market a free market system. The reforms are ending state price controls and a monopoly held by state-owned oil company Petroleos Mexicanos, or Pemex, at the pump.”
“ARCO will be the first brand of gasoline outside of Pemex in Baja California and Sonora,” Rodriguez said. “Right now, all the gasoline sold in Mexico is under the Pemex brand.”
“Regular unleaded at Grupo ECO’s gas stations in Tijuana currently sells for $16.09 pesos per liter, which translates to around $3.44 dollars per gallon. Across the border in San Diego, figures from the fuel price service GasBuddy show that ARCO gas stations there are selling regular unleaded at prices ranging from $2.79 to $3.19 per gallon.”
“We’ll have the most competitive price as possible,” Rodriguez said.
“The move comes at a time when many foreign companies are opening gas stations or entering into distribution and supply deals in Mexico. London-based oil giant BP opened a gas station in a Mexico City suburb were eager drivers endured long lines to fill up their tanks at its debut in March. San Antonio-based refining company Valero Energy Corp. (NYSE: VLO) recently entered into distribution deals that will introduce its brands of gasoline and diesel in Tampico, Monterrey, San Luis Potosi, Veracruz, Puebla and Mexico City. Earlier this month, California-based Chevron Corp. (NYSE: CVX) announced it will open its first gas station in Mexico in the coastal city of Hermosillo.”
“With Andeavor’s refineries and pipelines located across the border in California, Rodriguez said the San Antonio-based company was a perfect fit to supply Grupo ECO gas stations in Baja California and Sonora. The ARCO gas stations in Mexico will use the same gasoline and mirror the look of those in the United States with one exception — under Mexican law, all gas stations must be full-service.”
“It’s like any other American company that has come to Mexico.” Rodriguez said. “When you see an ARCO in Mexico, you can be sure it has the same quality as the ones in the United States.”
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“The move comes at a time when many foreign companies are opening gas stations or entering into distribution and supply deals in Mexico. London-based oil giant BP opened a gas station in a Mexico City suburb were eager drivers endured long lines to fill up their tanks at its debut in March. San Antonio-based refining company Valero Energy Corp. (NYSE: VLO) recently entered into distribution deals that will introduce its brands of gasoline and diesel in Tampico, Monterrey, San Luis Potosi, Veracruz, Puebla and Mexico City. Earlier this month, California-based Chevron Corp. (NYSE: CVX) announced it will open its first gas station in Mexico in the coastal city of Hermosillo.”
