Japan Pump Prices Down for 1st Time in 3 Weeks

Economy

Tokyo, Jan. 25 (Jiji Press)--The average retail price of regular gasoline in Japan as of Monday fell 0.1 yen from a week before to 168.1 yen per liter, down for the first time in three weeks, the industry ministry said Wednesday.

The average pump price was up in 22 of the country's 47 prefectures including Kyoto in western Japan, flat in six prefectures and down in the remaining 19 prefectures such as Nagasaki in southwestern Japan. Nagasaki posted the highest average price, at 181.6 yen.

Government subsidies paid to oil wholesalers had the effect of pushing down pump prices by 14.7 yen.

From Thursday, the amount of subsidies will be increased to 17.5 yen per liter amid rising crude oil prices.

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Jiji Press