Details of the government's additional measures to curb the rise in retail prices of gasoline and other products have been revealed.
We will raise the upper limit of subsidies to oil sales companies from the current 5 yen to 25 yen.
The budget scale is about 350 billion yen and will be applied from the 10th of this month.
With concerns over a further rise in crude oil prices due to Russia's military invasion of Ukraine, the government plans to announce additional measures later this week to curb the rise in prices of gasoline and kerosene.
According to the people concerned, as an additional measure, the upper limit of the subsidy to the oil wholesale company will be raised from the current 5 yen to 25 yen.
The current system will be activated after the national average retail price of regular gasoline exceeds 170 yen per liter, but additional measures will be applied when the retail price exceeds 172 yen per liter from the 10th of this month.
Until the gasoline price is about 197 yen per liter, a subsidy will be provided to the original sales company so that the price at the store will always be about 172 yen.
The budget scale is about 350 billion yen, and the necessary expenses will be contributed from the reserve fund of this year's budget, and we will consider continuing it after April of the new year.
In addition, the government has decided to put together a support package for a wide range of fields, such as measures against soaring fuel prices for taxi operators and measures by industry such as agriculture and fishing.