The retail price of regular gasoline this week was 172 yen per liter on average nationwide, up 0.6 yen from last week.
Although prices have been held down by government measures, crude oil prices are soaring due to the tightening situation in Ukraine and are expected to rise further next week.
According to the Petroleum Information Center, which is commissioned by the government to investigate gasoline prices, the retail price of regular gasoline as of 21st this month was 172 yen per liter on average, up 0.6 yen from last week.
The price has risen for 7 consecutive weeks and has been at the highest level for the first time in about 13 years.
In addition, the over-the-counter price of kerosene was 2020 yen per 18 liters on average nationwide, an increase of 9 yen from last week.
The government has subsidized a former oil sales company to implement unusual measures to reduce the wholesale price of gasoline and other products, and the Ministry of Economy, Trade and Industry has taken this measure to reduce the retail price of gasoline and kerosene by 5 yen per liter. It is said that the rise of was suppressed.
However, the subsidy amount has already reached the upper limit of 5 yen per liter.
In addition, as Russian President Vladimir Putin announced that he would carry out a special military operation to protect the inhabitants of eastern Ukraine, there was growing concern that supply from oil-producing Russia would be disrupted in the crude oil market. Crude oil future prices are rising.
As a result, retail prices for gasoline and kerosene are expected to rise further next week.