Japan Average Pump Price Down for 1st Time in 2 Weeks

Tokyo, Sept. 4 (Jiji Press)--The average retail price per liter of regular gasoline in Japan fell 0.1 yen from a week before to 174.4 yen as of Monday, down for the first time in two weeks, reflecting a fall in crude oil prices and the yen's appreciation, according to data released by the industry ministry Wednesday.

Government subsidies to oil refiners pushed down the average price by 17 yen, according to the ministry.

Among the country's 47 prefectures, the average price fell in 27, was unchanged in five, and rose in 15. Kagawa marked the largest drop, of 2.3 yen, while Hokkaido logged the biggest increase, of 1.3 yen.

For the week from Thursday, the subsidies will be lowered by 0.2 yen to 16.4 yen per liter.

The Oil Information Center of the Institute of Energy Economics forecasts a slight price increase next week.

[Copyright The Jiji Press, Ltd.]