Takaichi Vows to Swiftly Take Measures amid Soaring Oil Market

Tokyo, March 9 (Jiji Press)–Japanese Prime Minister Sanae Takaichi said Monday that her government will promptly implement measures to address the soaring crude oil market amid the deteriorating situation in the Middle East. “Since early last week, we’ve been considering measures that need to be taken immediately, including those concerning gasoline and diesel, as well as electricity and gas rates,” Takaichi said at a House of Representatives Budget Committee meeting. “We’ll implement the measures before it’s too late,” the prime minister noted. She added that these measures could be financed by the government’s fiscal 2026 budget. Her remarks came in response to a request by Kazuyoshi Akaba of the opposition Centrist Reform Alliance to extend government subsidies for utility charges, which are currently in place from January through March. Centrist Reform Alliance leader Junya Ogawa said that his party will propose a motion later this week to amend the budget bill to include measures against rising energy prices and to shelve a tax hike for higher defense spending. Meanwhile, Takaichi said that the government has not deemed the ongoing conflict in the Middle East to be a situation that significantly affects Japan. END [Copyright The Jiji Press, Ltd.]