Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) Jiye Kim Journalist = Korea Exchange(KRX), directed by Choi Kyungsoo, will open up kerosene trade by listing it on the KRX oil futures market from October 26.

KRX oil futures market was established in March 2012 in an attempt to stabilize oil prices and improve the distribution system of oil. As of now, gasoline and diesel are traded on the market.

Kerosene has seasonal fluctuations in its demand, as it mainly used for home heating during the winter season. The total consumption of kerosene in Korea in 2014 was about 15.43 million barrel.
The system for trading kerosene is designed identical to that of gasoline and diesel trading, in order to facilitate a market participation by imposing uniformity across the three types of oil.

The oil prices of KRX oil futures in the first half of 2015, are lower than that from other oil refineries, with 23.5won and 24.1won cheaper diesel and gasoline, respectively. The competitive oil prices are expected to lead a reduction in consumer price.

NSP News Agency/NSP TV Jiye Kim Journalist, graekim@nspna.com
Copyright ⓒ Korea's economic news agency NSP NEWS·NSP TV. All rights reserved-Redistribution Prohibited.