Japan Govt Paper Warns of Possible Further Fuel Price Rises

Society

Tokyo, June 4 (Jiji Press)--A Japanese government white paper Tuesday warned that fuel prices may rise further given the unstable international situations, putting an obstacle to stable energy supplies to Japan.

In the annual report on energy, adopted at a cabinet meeting, the government noted an increasing outflow of national wealth because of the rising prices of fuels, including liquefied natural gas, and a weaker yen.

Japanese imports of fossil fuels remained high at 27.3 trillion yen in 2023 after tripling to 33.7 trillion yen in 2022 from 11.3 trillion yen in 2020, even though the import volume did not change much.

The situation resulted from materials price increases fueled by Russia's invasion of Ukraine and the fall in the yen, according to the report.

In the report, the government showed concerns about energy security due to conflicts and natural disasters around the world and stressed the need to end excessive dependence on fossil fuels.

[Copyright The Jiji Press, Ltd.]

Jiji Press