Tokyo, Dec. 17 (Jiji Press)–Retail regular gasoline prices in Japan fell below 160 yen per liter as of Monday for the first time since September 2021 thanks to government subsidies, the industry ministry said Wednesday. The average price at the pump was down 4 yen from a week before at 159.7 yen per liter, marking the sixth consecutive weekly decrease. The government started raising subsidies in November, hiking them to 25.1 yen per liter on Thursday, matching the provisional gasoline tax surcharge, set to be abolished at the end of this year. The average gasoline price dropped in all 47 prefectures of the country. Among them, Fukui logged the largest decline, at 5.7 yen, while Akita had the smallest, at 1.8 yen. Retail gasoline prices are expected to keep declining because of Thursday’s subsidy increase and lower crude oil prices, said the Oil Information Center of the Institute of Energy Economics. END [Copyright The Jiji Press, Ltd.]
Japan Pump Prices Below 160 Yen for 1st Time in 4 Years
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