TOKYO, Aug 3 (NNN-NHK) – Japan’s average retail gasoline price has climbed to its highest level in 15 years, official data showed yesterday, as the government’s subsidy to prevent price hikes has been progressively reduced.
As of Monday, the average price for regular gasoline stood at 176.70 yen (1.24 U.S. dollars) per litre, advancing 1.90 yen from Jul 24, and hitting its highest level since Aug, 2008, according to the country’s Ministry of Economy, Trade and Industry.
The Japanese government has planned to halt its subsidy programme, designed to curb the impact of a surge in gasoline and other fuel prices, which is expected to push up prices and affect households.
The subsidy programme began in Jan, 2022, and was extended several times to keep the average retail price of gasoline at 168 yen per litre.
Gasoline prices are projected to continue rising through next week, national news agency, Kyodo reported, citing an official of the Oil Information Centre.– NNN-NHK
