The retail price of regular gasoline this week was 168 yen per liter on average nationwide, falling for the fourth straight week.
The reason is that the crude oil price temporarily dropped due to the caution that the economic recovery will be delayed due to the influence of the new mutant virus "Omicron strain".
According to the Petroleum Information Center, which is commissioned by the government to investigate gasoline prices, the retail price of regular gasoline as of the 6th was 168 yen per liter on average, down 0.6 yen from last week.
The price has dropped for 4 consecutive weeks.
This is due to a temporary drop in crude oil futures prices due to a sense of caution that the economic recovery will be delayed due to the impact of the new mutant virus "Omicron strain".
However, gasoline prices are still at their highest levels since 2014.
In addition, the over-the-counter price of kerosene was 1947 yen per 18 liters on average nationwide, a decrease of 5 yen from last week.
The price has dropped for the first time in 14 weeks since late August.
Regarding the outlook for the future, the Petroleum Information Center said, "The wholesale prices of oil wholesalers have continued to decline due to the decline in crude oil futures prices following the re-expansion of the new Corona infection. Some say the impact is limited, and if the infection doesn't spread, oil prices could start to rise again. "