Pump Prices in Japan Remain at 13-Year Highs

Economy

Tokyo, March 2 (Jiji Press)--Retail gasoline prices in Japan remained at 13-year highs due to elevated crude oil prices, rising for the eighth straight week as of Monday, the industry ministry said Wednesday.

The average retail price of regular gasoline rose 0.8 yen from a week before to 172.8 yen per liter.

Households and businesses are likely to face further burdens as gasoline prices are expected to continue rising amid supply concerns caused by Russia's invasion of Ukraine, analysts said.

Pump prices rose in 43 of the country's 47 prefectures, while declining only in three prefectures. The highest was 180.9 yen, marked in Kagoshima. Prices topped 180 yen also in Nagasaki and Nagano.

The nationwide average retail price of kerosene rose 13 yen to 2,033 yen per 18 liters.

[Copyright The Jiji Press, Ltd.]

Jiji Press