Japan’s average gas price rises to 15-yr high on lower gov’t subsidy

The average retail gasoline price in Japan has climbed to its highest level in 15 years, industry ministry data showed Wednesday, as the government subsidy to curb price hikes has been gradually scaling down.

The average price for regular gasoline stood at 176.70 yen ($1.24) per liter as of Monday, advancing 1.90 yen from July 24 and hitting its highest level since August 2008, according to the Ministry of Economy, Trade and Industry.

The price is expected to increase and affect households if the government halts the subsidy program, designed to curb the impact of a surge in gasoline and other...