The nationwide average retail price of regular gasoline this week was 168.1 yen, falling for the second consecutive 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 the 7th was 168.1 yen per liter on average nationwide, down 1 yen from last week.
Gasoline prices fell for the second week in a row, largely due to lower prices for Middle Eastern crude oil and the effect of government subsidies pushing down prices.
From the 10th, the Ministry of Economy, Trade and Industry will provide a subsidy of 36.3 yen per liter for wholesale gas stations.
Regarding the future outlook, the Petroleum Information Center said, ``In the future, the EU (European Union) is expected to increase procurement of crude oil from the Middle East, so it is difficult to assume further price drops, and gasoline prices next week are expected to level off after a decline. I expect it to turn around," he said.