Bulk purchases of oil products aimed at keeping prices down

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Bulk purchases of oil products aimed at keeping prices down

The government plans to buy oil products for 44,000 state organizations in bulk, seeking to boost competition among refiners and curb price increases.

The Public Procurement Service, which manages commodities for the government, will hold the first such auction on July 27 for 500 million liters (132 million gallons) or more of vehicle oil products such as gasoline and diesel, the Daejeon-based agency said in a statement yesterday.

Bloomberg

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