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Japan Average Pump Price Rises for 1st Time in 4 Weeks

Japan Average Pump Price Rises for 1st Time in 4 Weeks

   Tokyo, May 22 (Jiji Press)--Japan's average retail price of regular gasoline rose for the first time in four weeks, the industry ministry said Wednesday.
   The average stood at 174.8 yen per liter as of Monday, up 0.3 yen from a week before. A reduction in government subsidies for oil refiners led to the price increase.
   The average price rose in 25 of Japan's 47 prefectures, fell in 13 and stayed the same in the remaining nine. Large increases were logged in Miyagi, up 1.9 yen, and in Aichi, up 1.8 yen. The highest price was 184.4 yen in Nagano.
   Government subsides pushed down retail gasoline prices by 25.1 yen.
   Next week, retail prices are expected to move only slightly, according to the Oil Information Center of the Institute of Energy Economics, Japan. The center conducts the weekly gasoline price survey on behalf of the ministry.

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AFP-JIJI PRESS NEWS JOURNAL


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