The nationwide average retail price of regular gasoline this week was 169.7 yen per liter, falling for the first time in three weeks.
According to the Petroleum Information Center, which is commissioned by the government to investigate gasoline prices, the average retail price of regular gasoline nationwide as of the 20th was 169.7 yen per liter, down 0.4 yen from last week.
It's been 3 weeks since the price dropped.
The main reason for this is that crude oil prices have fallen against the backdrop of China's so-called zero-corona policy and concerns that the economy will slow down due to a drop in consumption due to successive interest rate hikes by central banks in Europe and the United States.
From the 22nd, the Ministry of Economy, Trade and Industry will provide a subsidy of 36.7 yen per liter for wholesale gas stations in various places.
Regarding the future outlook, the Petroleum Information Center said, ``There is a risk that crude oil prices will rise due to the impact of the weaker yen, so we would like to keep a close watch on price trends.''