The structure of Colombia's fuel retail market is undergoing significant consolidation, with Terpel and the owner of the Biomax chain now controlling 61% of the country's active service stations.
This shift underscores the increasing dominance of a few major players in a sector that has seen intense competition and pricing pressure in recent years.
According to data from the Colombian Chamber of Commerce (Comce), there are currently 6,353 active fuel stations in the country.
The market is led by four primary chains: Terpel, Primax, Biomax, and Texaco.
The reported concentration indicates that Terpel and the entity behind Biomax have expanded their footprint significantly, capturing the majority share of the physical distribution network.
This consolidation occurs against a backdrop of rising fuel costs, which have increasingly strained household affordability.