Japan Average Pump Price Exceeds 185 Yen

Tokyo, Jan. 22 (Jiji Press)--The average retail price of regular gasoline in Japan has exceeded 185 yen per liter for the first time in some 17 months, reflecting reduced government subsidies to oil wholesalers, the industry ministry said Wednesday.

The average gasoline price shot up 4.40 yen from a week before to 185.10 yen as of Monday. The average price last topped 185 yen on Sept. 4, 2023, when it hit a record high of 186.50 yen.

Average pump prices rose in all 47 prefectures of the country, six of which saw the prices hit 190 yen or more. Kochi Prefecture had the highest price, at 193.60 yen, followed by Nagano Prefecture, with 193.50 yen. Iwate Prefecture had the lowest average price, at 177.80 yen.

The government started to cut back on subsidies last December.

If gasoline prices exceed the base price of 168 yen, the government initially subsidized 60 pct of the gap between the base price and pump prices of up to 185 yen. Subsidies were then reduced to 30 pct.

[Copyright The Jiji Press, Ltd.]