Daily Management Review

Gasoline prices hit record high in Japan


The average retail price per liter was 185.6 yen.

The average retail price of gasoline in Japan reached 185.6 yen per liter, which is the highest price ever since the start of the statistics in 1990, reports the country's Ministry of Economy, Trade, and Industry.

Fuel costs in Japan have increased significantly since May following the government's decision to stop providing state subsidies to firms that trade in gasoline. Additional unfavorable aspects included rising gasoline prices and a weak yen in relation to the dollar.

In September of this year, the Japanese government decided to end the program of fuel price assistance. Fumio Kishida, the prime minister of Japan, gave the order to create fresh support measures in response to the record rise in fuel prices and the ongoing depreciation of the yen.

source: asia.nikkei.com