Japan Pump Prices Remain at 7-Year Highs

Economy

Tokyo, Oct. 20 (Jiji Press)--Retail gasoline prices in Japan remained at seven-year highs this week due to soaring crude oil prices, data released Wednesday by the Economy, Trade and Industry Ministry showed.

The average retail price of regular gasoline came to 164.6 yen per liter as of Monday, rising 2.5 yen from a week before in the seventh consecutive weekly increase.

Rising pump prices, coupled with an increase in kerosene prices, have raised concerns about the possible impact on people’s livelihoods going into the winter.

Gasoline prices are highly likely to rise again next week as domestic oil distributors raised their wholesale prices for gas stations by around 2.5-3 yen per liter this week.

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Jiji Press