Japan Average Pump Price Hits 4-Month High

Economy

Tokyo, April 24 (Jiji Press)--The average retail price of regular gasoline in Japan hit a four-month high just ahead of a 10-day holiday period, a government survey showed Wednesday.

The average price as of Monday rose 1.2 yen from a week before to 148.40 yen per liter, up for the 10th consecutive week, the Natural Resources and Energy Agency said.

The price increase, which reflected higher crude oil prices, will be a blow to people going home or making trips by car in the 10-day Golden Week period from Saturday.

Pump prices advanced in all of the country's 47 prefectures for the first time since October 2017. Miyagi saw the sharpest increase of 3 yen, followed by Okinawa at 2.5 yen and Osaka at 2.3 yen.

Crude oil prices are rising on the back of production cuts by the Organization of the Petroleum Exporting Countries and U.S. sanctions against Iran and Venezuela.

[Copyright The Jiji Press, Ltd.]

Jiji Press