Japan's average retail gasoline price surpasses 160 yen for the first time in three months
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Golden Ten Data reported on March 11 that Japan's Ministry of Economy, Trade and Industry stated on Wednesday that, due to the rise in crude oil prices caused by the US and Israel's attack on Iran, the retail price of regular gasoline in Japan exceeded 160 yen per liter for the first time in three months as of Monday. The average price at gas stations increased by 3.3 yen from the previous week, reaching 161.8 yen per liter, marking the fourth consecutive week of price increases. Gasoline prices rose in all 47 prefectures across Japan. Among them, Yamagata Prefecture had the highest price at 170.1 yen, while Aichi Prefecture had the lowest at 155.6 yen. The effective closure of the main oil transportation route, the Strait of Hormuz, has intensified supply concerns and led to price fluctuations, and gasoline prices are expected to rise further.
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