Japan Average Pump Price Up for 1st Time in 4 Months

Economy

Tokyo, May 20 (Jiji Press)--Japan's average retail gasoline price as of Monday rose 0.7 yen from a week before to 125.5 yen per liter, its first rise in four months, the government said Wednesday.

Crude oil prices are on an uptrend after oil-producing countries including Saudi Arabia agreed to cut production.

Pump prices grew in 28 of Japan's 47 prefectures, with Gunma logging the largest increase of 5.6 yen, according to the Agency for Natural Resources and Energy.

Okinawa and other 18 prefectures posted declines.

Crude oil prices had dropped sharply since January on prospects that the novel coronavirus crisis would dampen energy consumption, leading to falls in gasoline prices.

[Copyright The Jiji Press, Ltd.]

Jiji Press