Japan Pump Prices Log 1st Fall in 14 Weeks

Economy

Tokyo, Aug. 19 (Jiji Press)--Gasoline prices in Japan fell for the first time in 14 weeks this week, with demand subdued amid the coronavirus epidemic, a government report showed Wednesday.

The nationwide average of regular gasoline prices as of Monday dipped 0.10 yen from a week before to 135.50 yen per liter, according to the Agency for Natural Resources and Energy.

Pump prices were down in 22 prefectures, and up in 20 others. The remaining five prefectures saw prices stay flat.

The average price was initially expected to rise this week, but demand was slow to grow as many people refrained from travel, including to family homes during the country's "Bon" summer holiday.

Domestic gasoline demand in early August was 20 pct to 30 pct lower than a year earlier, according to the Oil Information Center, which conducts the gasoline survey.

[Copyright The Jiji Press, Ltd.]

Jiji Press