The retail price of regular gasoline this week has risen to a national average of 158.4 yen per liter for the eighth straight week.
It is the highest price in about 2 years and 8 months, but the group that conducted the survey suspects that the price will settle down from next week onwards.
According to the "Oil Information Center," which is commissioned by the government to investigate gasoline prices, the retail price of regular gasoline as of the 26th was 158.4 yen per liter on a national average, up 0.1 yen from last week.
The price has risen for 8 consecutive weeks, the highest price in about 2 years and 8 months.
The main reason for this is the continued rise in international crude oil prices, with the view that economic activity is normalizing and demand for petroleum products is increasing in the United States and Europe, where vaccination is progressing.
However, recently, major oil-producing countries have agreed to gradually increase production after August, and there is a growing sense of caution about the spread of the mutant virus "Delta strain" confirmed in India. It means that the pace of increase in crude oil prices has been stopped.
For this reason, the group that conducted the survey suspects that gasoline prices will settle down from next week onwards.