This undated file photo shows a gas station in Seoul. (Yonhap)
SEOUL, Feb. 2 (Korea Bizwire) — Starting from the latter half of this year, the mandatory blend ratio of biodiesel in diesel fuel will be increased from the current 3 percent to 3.5 percent.
On Monday, the Ministry of Trade, Industry and Energy announced advance legislation notice for the revised enforcement ordinance of the Act on the Promotion of the Development, Use and Diffusion of New and Renewable Energy that focuses on adjusting the Renewable Fuel Standard (RFS) ratio upward on a step by step basis.
The RFS refers to the guidelines that obligate oil refiners and exporters/importers to supply diesel fuel by blending it with biodiesel in a specific ratio.
To promote the use of new and renewable energy, the government plans to raise the ratio from the current 3 percent to 5 percent in 2030 through an upward adjustment of 0.5 percentage points every three years.
The ministry said that the results of a commissioned study showed that it does not have impact on the car’s performance even if the blend ratio is raised up to 5 percent under the legal criteria of temperatures higher than minus 18 degrees Celsius.
Biodiesel refers to the bio-fuel that is made of vegetable oil or animal fat, with its price being about two times higher than that of diesel fuel.
The revision of the enforcement ordinance will be completed by the end of June and take effect from July 1.
J. S. Shin (js_shin@koreabizwire.com)
