Kishida Vows to Keep Gasoline Prices Stable

Economy

Tokyo, March 13 (Jiji Press)--Japanese Prime Minister Fumio Kishida said Sunday that the government will work to ensure that retail gasoline prices do not rise above 172 yen per liter for the time being.

Kishida made the comments at an annual convention of his ruling Liberal Democratic Party as pump prices have been surging due to the fallout of Russia's invasion of Ukraine.

The government earlier this month adopted additional measures to curb gasoline prices, including an increase in the cap on its subsidies paid to oil wholesalers to 25 yen per liter from 5 yen.

"We have to ensure stable energy supply that is in the national interest that needs to be protected while acting decisively regarding sanctions on Russia," Kishida said.

"I myself will actively engage in resources diplomacy and lobby Middle Eastern oil producing countries with which Japan has historic relations," he said.

[Copyright The Jiji Press, Ltd.]

Jiji Press