Gasoline 1 liter 139.6 yen Price drops for 9 consecutive weeks March 25 16:44
The retail price of regular gasoline this week was 139.6 yen per liter, down 3.9 yen from the previous week.
Oil demand is expected to fall due to the spread of the new coronavirus, and the collapse of cooperation among oil-producing countries has led to a drop in crude oil prices.
According to the Petroleum Information Center, which surveys gasoline prices on behalf of the government, the retail price of regular gasoline as of the 23rd of this week was 139.6 yen per liter, down 3.9 yen from the previous week.
The price has dropped for the ninth consecutive week, falling to the first level in two years and four months since November 2017.
As economic activity has stagnated worldwide due to the spread of the new coronavirus and oil demand is expected to decline, oil-producing countries such as Saudi Arabia and Russia cannot agree on a cut in crude oil production this month, resulting in higher oil prices. The reason is that it has fallen.
The Oil Information Center said, "Retail prices are likely to fall again next week as petroleum sellers cut wholesale gasoline prices due to falling oil prices."