Gas stations can sell multiple brands

South Koreas local gas stations can sell more than one brand of fuel starting September. This is a major shift from the current policy that regulates gas pumps exclusive to only one refiner. Currently, domestic gas stations provide oil products refined by one of four Korean refiners — SK Energy Co., GS Caltex Corp., S-Oil Corp., and Hyundai Oilbank. “We expect gas stations to start selling a mix of oil products after their exclusive contracts with particular refiners expire. Given that a contract lasts for one to five years on average, we expect the shift to take place gradually,” the Fair Trade Commission (FTC) said. But consumers are worried that with the new plan, refiners may scrap current mileage or discount deals that are offered to their frequent customers. Earlier in the year, the government had said it also planned to allow retailers such as discount stores E-Mart, Homeplus and Lotte Mart to run gas stations to encourage greater competition. (September 1, 2008)