Japan Pump Prices Fall for 2nd Week

Economy

Tokyo, Nov. 25 (Jiji Press)--Retail gasoline prices in Japan fell for the second consecutive week, but remained at a high level on the back of elevated crude oil prices, the industry ministry said Thursday.

The average retail price of regular gasoline dropped 0.2 yen from a week earlier to stand at 168.7 yen per liter as of Monday.

The ministry also said that the average price of kerosene, chiefly used in heaters, stood unchanged at 1,950 yen per 18 liters. While the price stopped rising for the first time in 12 weeks, it remained at a 13-year high.

The Oil Information Center, which conducts the price survey, predicted that the national average prices of gasoline and kerosene will fall next week.

The Japanese government announced Wednesday that it will join an international move to release state oil reserves as part of measures to tackle the high crude oil prices.

[Copyright The Jiji Press, Ltd.]

Jiji Press