Japan to extend oil subsidy program to next spring to curb price hike

Politics Economy

Japan is considering extending its subsidy program for oil wholesales to lower retail gasoline prices beyond its current year-end deadline to next spring, intending to prevent a sharp hike in fuel costs amid persistent supply concerns triggered by Russia's invasion of Ukraine, sources familiar with the situation said Saturday. The government plans to set aside more than 1 trillion yen from the envisaged fiscal 2022 second supplementary budget that will finance an economic stimulus package to be finalized in October, the sources said. Subsidies to curb the impact of a surge in gasoline and othe...

Kyodo News

Kyodo News