South Korea Caps Gasoline, Diesel and Heating Kerosene Exports at 2025 Volumes — OPIS
South Korea will allow its refiners to export only the same volumes of gasoline, diesel and heating kerosene as they did for the same months in 2025, after imposing domestic price caps on various petroleum products, according to a notice by the Ministry of Trade, Industry and Energy on Friday.
Jet fuel was not included in the export cap, which takes effect on March 13.
The government may adjust the export cap volumes as and when necessary.
The export cap was likely implemented in tandem with the domestic price caps, as the latter will result in large price spreads to firmer international prices. This would have incentivized South Korean refiners to maximize their exports to the detriment of the domestic market supply.
The export cap is aimed at stabilizing market demand and supply, the notice states. Seoul previously announced a series of measures to be implemented this week--including a reduction in the fuel tax and restrictions on naphtha exports--following its decision to release oil reserves amid the ongoing conflict in the Middle East, as reported earlier.
--Reporting by Kite Chong, kchong@opisnet.com; Editing by Mei-Hwen Wong,
(END) Dow Jones Newswires
March 13, 2026 06:56 ET (10:56 GMT)
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