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(Update) Japan Average Pump Price Hits Highest Level in 7 Years

(Update) Japan Average Pump Price Hits Highest Level in 7 Years

   Tokyo, Oct. 13 (Jiji Press)--The average retail price of regular gasoline in Japan as of Monday reached 162.1 yen per liter, the highest figure since October 2014, the industry ministry said Wednesday.
   The average pump price rose by 2.1 yen from a week before to mark the sixth straight week of increase, reflecting soaring crude oil prices after oil-producing countries decided not to raise output sharply.
   Pump prices are likely to continue to grow next week, as domestic oil distributors this week raised wholesale prices for gas stations by around 2.5-3 yen.
   Pump prices went up in all 47 prefectures of Japan. Okayama logged the biggest growth, with a rise of 3.7 yen, followed by Aichi and Miyagi.
   The highest average price by prefecture was posted in Nagasaki, which has many remote islands, at 170.4 yen.

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AFP-JIJI PRESS NEWS JOURNAL


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