The national average retail price of regular gasoline this week was 147.3 yen per liter, rising for the 16th consecutive week.
This is because crude oil prices are rising due to expectations for a recovery in the global economy due to the spread of the new coronavirus vaccine.
According to the Petroleum Information Center, which is entrusted by the government to investigate gasoline prices, the retail price of regular gasoline as of the 15th was 147.3 yen per liter on a national average.
It was 1.2 yen higher than the previous week, and the price has increased for 16 consecutive weeks.
The retail price of regular gasoline fell to the 120 yen level in April last year due to the drop in crude oil prices due to the spread of the new coronavirus infection, and has remained at a low level since then.
However, the price of crude oil has started to rise due to the cooperation of oil-producing countries and the expectation for the recovery of the world economy due to the spread of vaccines, and the price of gasoline has continued to rise accordingly.
Gasoline prices have risen for 16 consecutive weeks since July 2009, when they have been on an upward trend since the decline after the Lehman shock.
Regarding the outlook for the future, the Oil Information Center said, "We expect gasoline prices to rise next week, but there is a sense of caution about high prices in overseas markets, and the outlook is difficult."