Gasoline prices in Japan reach a record high of 185.6 yen

By MG News | Category Commodities | August 30, 2023 at 12:11 PM GMT+05:00

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August 30, 2023 (MLN): Japan’s nationwide average retail price of regular gasoline rose by 1.9 yen to a record high of 185.6 yen ($1.27) per liter over the week to August 28, marking the 15th consecutive weekly increase, the Ministry of Economy, Trade and Industry said on Wednesday, as Reuters reported.

The previous record was 185.10 yen per liter, in August 2008.

Gasoline prices have been rising steadily in Japan due to the weaker yen and higher global oil prices.

The government said last week it may extend support given the persistent price hikes.

The government is considering extending until year-end fuel subsidies to keep gasoline prices below 180 yen a liter, three people with direct knowledge of the matter said on Tuesday.

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