The nationwide average retail price of regular gasoline this week was 168.7 yen per liter, falling for the fourth consecutive week.
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 11th was 168.7 yen per liter, down 0.4 yen from last week.
It's been 4 consecutive weeks of declines.
In addition to the drop in crude oil prices due to the view that the demand for crude oil will decline due to the economic recession due to monetary tightening by central banks in Europe and the United States, the effect of government subsidies has led to a reduction in wholesale gasoline prices. It's a factor.
From the 13th, the Ministry of Economy, Trade and Industry will provide a subsidy of 36.8 yen per liter for wholesale gas stations in various places.
Regarding the outlook for the future, the Japan Petroleum Information Center said, ``Crude oil prices are expected to rise as oil-producing countries have decided to significantly reduce crude oil production from next month onwards, and there is a view that supply and demand will tighten. And the retail price of gasoline is also expected to turn upward."