In Fukuoka Prefecture, the average price of regular gasoline has been on an upward trend for seven consecutive weeks. The Oil Information Center, which tracks gasoline prices for the government, noted that the average cost per liter of regular gasoline in Fukuoka rose by 0.6 yen to 172.5 yen as of July 24, compared to the prior week. This constitutes the seventh straight week of increases.
The price rise is primarily attributed to the gradual reduction in government subsidies from June, which were intended to alleviate the burden of fuel costs, resulting in increased retail prices. The week of July 31 is also expected to see further gasoline price increases due to the continued decrease in the subsidy rate.Japan’s Ministry of Economy, Trade, and Industry announced that the gasoline price subsidy, which was implemented in January of the previous year, will conclude by the end of September this year. Source: TNC
Photo by sippakorn yamkasikorn on Unsplash
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