petroleum market
The KRX petroleum market is a place where, as in the stock market, the listed products (type of petroleum, trademark, region or storage site) is traded by the method of competitive trading1) between sellers (refiners, importers, agencies) and buyers (gas stations, general stores, agencies)
fn. 1)
Competitive trading method: Among sellers, the person who has submitted the lowest price is given the highest priority, whereas, among the buyers, the person who has submitted the highest prices is given the highest priority. However, a “first come first served” basis is applied to those who have submitted the same price.
For the three types of petroleum - gasoline, diesel and kerosene, the issues to be traded are decided based on the trademarks and shipping locations.