Tokyo, Oct. 29 (Jiji Press)–Japan’s ruling Liberal Democratic Party has proposed scaling back subsidies aimed at curbing surges in gasoline prices in stages from December. Prime Minister Sanae Takaichi received the proposal from LDP officials, including policy chief Takayuki Kobayashi, in a meeting held at the prime minister’s office Wednesday. The LDP called for “a steady transition to a sustainable system.” Takaichi showed understanding for the request, according to a meeting participant. The party also asked the government to “sufficiently consider” the impact of the proposed subsidy cut on people’s lives and economic activities. Meanwhile, the LDP requested the government to continue making efforts to curb the prices of kerosene, which is “an important fuel” to protect the lives of people in winter because it is used for heating and hot water supply. Moreover, the party called for the resumption of financial support to help lower electricity and gas bills, which was terminated at the end of September. Officials of the Japan Innovation Party, the coalition partner of the LDP, presented a similar proposal to the prime minister. Following surges in crude oil prices reflecting the Middle East turmoil, the government has provided subsidies to oil wholesalers in an effort to curb the average retail price of regular gasoline at around 170 yen per liter nationwide. On Friday last week, Takaichi showed a plan to consider reviewing the gasoline subsidy program. At a press conference Wednesday, Chief Cabinet Secretary Minoru Kihara said that the government hopes to present a new support system as early as possible. The industry ministry said Wednesday that the average retail gasoline price in the country stood at 170.1 yen per liter as of Monday, down 0.1 yen from a week before. The amount of subsidies from Thursday would be a record high of 52.4 yen per liter. In the northernmost prefecture of Hokkaido, the average retail price of kerosene came to 156.2 yen per 18 liters as of Monday, up 0.5 yen and hitting a record high for the third consecutive week. END [Copyright The Jiji Press, Ltd.]
