Japan's average gasoline price slightly falls for 1st time in 5 weeks-Xinhua

Japan's average gasoline price slightly falls for 1st time in 5 weeks

Source: Xinhua

Editor: huaxia

2024-04-17 21:54:45

TOKYO, April 17 (Xinhua) -- Japan's average retail price of regular gasoline fell for the first time in five weeks due to boosted subsidies, industry ministry data showed Wednesday.

The average pump price as of Monday was down 0.1 yen from a week before to 174.9 yen (1.13 U.S. dollars) per liter, according to the Ministry of Economy, Trade and Industry.

Crude oil prices increased on escalating tensions in the Middle East, but the Japanese government expanded its subsidies to oil refiners to help lower the average pump price.

Among 47 prefectures across the country, 20 logged average pump price increases while 22 reported falls. The remaining five reported prices stayed the same.

The government subsidies pushed down retail gasoline prices by 28.6 yen, the ministry said.