Gasoline retail price rises for 11 consecutive weeks Price decline expected next week January 22 at 15:28
The retail price of regular gasoline for the week was 151.6 yen per liter, up for the 11th consecutive week, due to the rise in crude oil prices in the conflict between the United States and Iran. However, tensions in the Middle East are expected to ease next week, based on the view that tensions have eased.
According to the Petroleum Information Center, which surveys gasoline prices on behalf of the government, the national average retail price of regular gasoline as of the 20th was 151.6 yen per liter, up 0.5 yen from last week. The price increase has been for 11 consecutive weeks, the highest level since November.
This was due to the high price of crude oil from early to mid-month due to increased tensions in the Middle East due to the conflict between the United States and Iran.
Since then, tensions in the Middle East have eased and crude oil prices have fallen somewhat, and the Petroleum Information Center expects gasoline prices to fall next week. However, regarding the situation in the Middle East, he said, "The conflict between the United States and Iran appears to have calmed down, but we need to continue to be careful in the future."