PHOTO
A man pumps gas behind a fueling bay at a gas station in Wilkes-Barre, Pennsylvania, U.S. October 19, 2022. REUTERS/Aimee Dilger Image used for illustrative purpose.
Japan's nationwide average retail price of regular gasoline rose by 1.80 yen to 183.70 yen ($1.26) per litre over the week to Aug. 21, marking the 14th consecutive weekly increase, the Ministry of Economy, Trade and Industry said on Wednesday.
The government subsidies the fuel and has said it may extend support given the persistent price rise. It had gradually cut subsidies first introduced in early 2022.
Without the subsidies, the price could be as high as 195.70 yen per litre, the ministry said, as higher international crude oil prices and a weak yen have pushed gasoline prices to their highest level in 15 years.
($1 = 145.4500 yen) (Reporting by Katya Golubkova; editing by Barbara Lewis)