TOKYO (MNI) – The average price of regular gasoline in Japan this
week hit the highest in nearly three and a half years at Y155.6 ($1.87)
per liter, or $7.11 per gallon, surging from Y152.6 in the previous
week, data released by the Oil Information Center showed on Wednesday.
It was the highest level since Y157.4 seen in the week of Oct. 20,
2008, and marked a fifth straight weekly rise.
The recent surge in refined petroleum product prices in Japan
reflects rising crude oil prices in global markets on heightened
tensions over Iran’s nuclear enrichment program and U.S.-led sanctions.
The average retail price this week rose 2.9% from the Y151.2 per
liter price seen a year earlier, with the pace of year-on-year gains
little changed from a 2.8% rise in the previous week.
The average price of high-octane gasoline stood at Y166.4 per liter
this week, up sharply from Y163.4 in the previous week. It hit a record
high of Y196.0 on Aug. 4, 2008.
The average price of diesel fuel was at Y135.0 per liter, up from
Y132.5 in the previous week. That compares with the record high of
Y167.4 recorded on Aug. 4, 2008.
The average over-the-counter price of kerosene for heating stood at
Y1,748 per 18 liters this week, up from Y1,730 last week. It posted a
record high of Y2,378 on Aug. 11, 2008.
The average home-delivery kerosene price was at Y1,865 per 18
liters, up from Y1,847 the previous week. It hit a record high of Y2,484
on Aug. 11, 2008.
tokyo@marketnews.com
** MNI Tokyo Newsroom: 81-3-5403-4835 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]
