The retail price of regular gasoline this week was 172.8 yen per liter on a national average, falling for the third straight week.
The government has decided to expand subsidies to oil retailers from the 28th, and the national average retail price is expected to be suppressed to around 168 yen.
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 25th was 172.8 yen per liter on average, down 0.7 yen from last week.
The price has fallen for three consecutive weeks, and the Ministry of Economy, Trade and Industry says that the retail price was suppressed by 25.4 yen by subsidy to the oil wholesale company, but the gasoline price still exceeded 170 yen, the highest level since 2008. I am.
In response to the soaring crude oil price, the government has decided to lower the price restraint standard of about 172 yen per liter of gasoline and expand subsidies to oil wholesale companies, and after 28th, 31.8 Yen is to be paid.
As a result, the national average retail price of regular gasoline is expected to be suppressed to around 168 yen.
Regarding the future outlook, the Petroleum Information Center said, "It is expected that the rate of price decline will increase due to the expansion of subsidies."