DMCC to launch gasoline contract

The Dubai Multi Commodities Centre (DMCC) is developing a gasoline contract, to be traded on the Dubai Gold & Commodities Exchange (DGCX) in 2007.

"Gasoline pricing practices in the Middle East are in need of serious reform, having long ceased to adequately serve the region's need for an efficient and transparent pricing system," says Dr Tilak Doshi, executive director for energy at DMCC. "In an era of ever higher and volatile prices, this contract would provide an efficient tool to hedge pri