Gasoline 1 liter 136.3 yen Price drop for 10 consecutive weeks April 1 14:44
The retail price of regular gasoline this week was 136.3 yen per liter, down 3.3 yen from the previous week. The price has been falling for 10 consecutive weeks due to concerns about a decline in demand for crude oil due to the spread of the new coronavirus.
According to the Petroleum Information Center, which surveys gasoline prices on behalf of the government, the retail price of regular gasoline as of the 30th of last month fell 3.3 yen per liter from the previous week to 136.3 yen.
This price has fallen for the 10th consecutive week, falling for the first time in two years and five months since the October 2017 survey.
This is due to the prospect that the global economy will slow down due to the spread of the new coronavirus and that demand for crude oil will decline, and that OPEC and the oil-producing nations such as Russia cannot agree on a reduction in crude oil production. This is because oil prices have fallen from the view that oversupply will continue.
According to the Japan Petroleum Information Center, "The spread of the new coronavirus infection is unlikely to converge, and gasoline prices are likely to continue falling next week."