Gasoline price drops for two weeks in a row Obon also drops a little, or August 7, 19:45
This week's regular gasoline retail price dropped for an average of 145.5 yen per liter for two consecutive weeks. The oil information center we are investigating is expected to see a small drop in prices next week during the Bon Festival.
According to the Petroleum Information Center, which is commissioned by the government and is investigating gasoline prices, the national average retail price of regular gasoline as of the 5th was 145.5 yen per liter, 0.2 yen lower than the previous week. The price decline is for 2 consecutive weeks.
The reason is that the price of crude oil is decreasing from the perspective that the global economy will slow down due to trade friction between the United States and China, and the demand for crude oil will decrease.
The Petroleum Information Center expects gasoline prices to drop slightly next week when many people go out by car during the Bon holiday.
The retail price of regular gasoline was about 150 yen per liter in May, so the burden of gasoline is likely to be less than during large holidays.
However, if the United States and Iran deepen the conflict and tensions in the Middle East increase, crude oil prices may turn up again.