Japan to keep gasoline subsidy of Y5 a litre for week starting Thursday

FILE PHOTO: A traffic jam is seen in front of the new Toyosu market, which has been relocated from Tsukiji market,  on its opening day, in Tokyo, Japan, October 11, 2018.   REUTERS/Issei Kato
FILE PHOTO: A traffic jam is seen in front of the new Toyosu market, which has been relocated from Tsukiji market, on its opening day, in Tokyo, Japan, October 11, 2018. REUTERS/Issei Kato

TOKYO (Reuters) - Japan will keep its gasoline subsidy for oil distributors at 5 yen ($0.043) a litre for the week starting on Thursday, the country's industry ministry said on Wednesday in its website.

The government last week raised the subsidy to 5 yen a litre for the week started last Thursday from 3.7 yen a week earlier, hitting a ceiling for the temporary scheme to blunt a sharp rise in fuel prices.

The government sets the subsidy amount every week if the retail gasoline price exceeds the threshold of 170 yen under the programme implemented on Jan. 27.

$1 = 115.6800 yen)

(Reporting by Yuka Obayashi; Editing by Shailesh Kuber)

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