Japan's average gas price slightly falls-Xinhua

Japan's average gas price slightly falls

Source: Xinhua

Editor: huaxia

2023-10-04 21:59:45

TOKYO, Oct. 4 (Xinhua) -- The average retail price of regular gasoline in Japan fell below 180 yen (1.21 U.S. dollars) per liter for the first time in about two months, industry ministry data showed Wednesday.

The average pump price as of Monday was down 1.2 yen from a week before to 179.3 yen, dropping for the fourth straight week, according to the Ministry of Economy, Trade and Industry.

The continued drop came after the Japanese government expanded its subsidies to oil wholesalers to push down gasoline prices.

Some 20 among the country's 47 prefectures still saw the average pump price at 180 yen or higher.

Previously, the Japanese government planned to halt the subsidy program, designed to curb the impact of a surge in gasoline and other fuel prices, at the end of September.

The ministry predicted that the national average price would have reached 212 yen if the subsidies had not been provided. (1 Japanese yen equals 0.0067 U.S. dollars)