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ECONOMY > Economic Indicators

Japan pump price tops 170 yen again

  • June 15, 2022
  • , Jiji Press , 7:15 p.m.
  • English Press

Tokyo, June 15 (Jiji Press)–Retail gasoline prices in Japan as of Monday topped 170 yen per liter on average for the first time in about a month, the industry ministry said Wednesday.

The average retail price of regular gasoline rose 1.4 yen from a week before to 171.2 yen.

The ministry will increase the amount of subsidies paid to refineries to 41.4 yen per liter on Thursday, topping 40 yen for the first time since the subsidy program was introduced to help lower gasoline prices.

The average pump price rose in 40 of the country’s 47 prefectures, while dropping in five prefectures. The average price was flat in Osaka and Kochi. The highest price was recorded in Nagasaki, at 181.5 yen.

Gasoline prices are expected to rise again next week despite the increase in subsidies due to higher crude oil prices and the yen’s weakness, said the Oil Information Center, which conducts the weekly survey on behalf of the ministry.

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