Japan Pump Price Reaches 160 Yen for 1st Time in 3 Yrs

Politics Economy

Tokyo, Oct. 6 (Jiji Press)--The average pump price of regular gasoline in Japan as of Monday reached 160 yen per liter for the first time in some three years, government data showed Wednesday.

The nationwide average price rose by 1.3 yen from a week before, marking the fifth straight week of growth, due to soaring crude oil prices, according to a survey by the industry ministry.

Earlier this week, Japanese oil distributers raised wholesale prices for gas stations by around 2 yen. The average pump price is therefore likely to top 160 yen for the first time in about seven years next week.

Higher pump prices are expected to put burdens on households as people are increasingly traveling by car this autumn tourist season after the government fully lifted its COVID-19 state of emergency on Friday.

Pump prices rose in 43 of the country's 47 prefectures, with Kochi posting the sharpest increase of 3.7 yen, followed by Yamagata and Fukui. Tottori and Okayama saw prices fall.

[Copyright The Jiji Press, Ltd.]

Jiji Press