Tokyo, March 11 (Jiji Press)–Retail prices of regular gasoline in Japan surpassed 160 yen per liter on average as of Monday for the first time in three months, reflecting higher crude oil prices following U.S.-Israeli attacks on Iran, the industry ministry said Wednesday. The average price at the pump climbed 3.3 yen from a week earlier to 161.8 yen per liter, marking the fourth consecutive weekly increase. All 47 prefectures of the country saw price rises. Yamagata logged the highest price, at 170.1 yen, and Aichi the lowest, at 155.6 yen. Gasoline prices are expected to rise further as the effective closure of the Strait of Hormuz, a major oil transport route, raised supply concerns, leaving oil prices volatile. END [Copyright The Jiji Press, Ltd.]
Japan Pump Price Tops 160 Yen for 1st Time in 3 Months
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