The nationwide average retail price of regular gasoline as of the 13th of this month was 167.4 yen per liter, which has remained flat since the middle of last month.
According to the Petroleum Information Center, which is commissioned by the government to investigate gasoline prices, the recent crude oil price has risen due to the expectation that the Chinese economy will recover, but it is unlikely that the price will be passed on to retailers. Partly because of the delay, the national average remained flat.
From the 16th, the Ministry of Economy, Trade and Industry will provide subsidies of 17.1 yen per liter for wholesale gas stations.
Regarding the future outlook, the Japan Petroleum Information Center said, ``Since the bankruptcy in the United States, crude oil prices have fallen due to concerns about financial instability, but gasoline prices have remained flat or slightly decreased due to government subsidies. We expect the price movement to remain stable,” he said.