Gasoline price drop to the 120 yen range for the first time in 3 years and 4 months New corona effect April 30 15:48

The retail price of regular gasoline this week was 129 yen per liter on a national average, dropping to the 120 yen range for the first time in 3 years and 4 months.

According to the Petroleum Information Center, which is commissioned by the government to investigate the gasoline price, the regular gasoline retail price as of April 27 was 129 yen per liter, a decrease of 1.9 yen from the previous week. . It is the first time in 3 years and 4 months since December 2016 that the price has dropped to the 120 yen level for 14 consecutive weeks.

This is because global demand for gasoline and other products has declined due to the spread of the new coronavirus, and international crude oil prices have fallen.

Regarding crude oil prices, price fluctuations have become unstable, with futures prices falling negatively for the first time in the New York market last week, and major oil-producing countries such as Saudi Arabia and Russia are planning to cut production from May.

Demand for large holidays originally increases, but the Petroleum Information Center said, "The demand for refraining from going out continues due to the declaration of an emergency, and the drop in demand is likely to continue, so prices will continue to decline for the time being."