The retail price of regular gasoline this week was 168.4 yen per liter on a national average, rising for the second straight week.
The price is expected to rise next week in response to the rise in crude oil prices, and if it exceeds 170 yen, the government will use subsidies to take the first measures to curb the rise in retail prices.
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 17th was 168.4 yen per liter on average, up 1.9 yen from last week.
There is widespread view that this has a limited global impact on economic activity due to the spread of Omicron strains, and the sense of caution about a decline in demand for crude oil has eased, and crude oil prices have risen recently. This is the main factor, and the price increase has been for the second consecutive week.
In addition, the over-the-counter price of kerosene was 1958 yen per 18 liters on average, up 24 yen from last week, rising for the second consecutive week.
Regarding the future outlook, the Oil Information Center said, "The explosion at the facility of the UAE = state-owned oil company in the United Arab Emirates has raised concerns that the supply of crude oil may be disrupted, and crude oil prices are rising. , Gasoline prices are expected to rise again next week. "
If the national average retail price of regular gasoline exceeds 170 yen per liter, the government will use subsidies for the first time to curb the rise in retail prices of gasoline and kerosene.