TOKYO (MNI) – The average price of regular gasoline in Japan this
week soared further to Y148.5 ($1.84) per liter, or $6.99 per gallon,
from Y145.5 last week, hitting a fresh two-year high, data released by
the Oil Information Center showed on Wednesday.

Regular gasoline prices remained at the highest level in over two
years since the week that started on Oct. 27, 2008, when the average
price stood at Y151.3.

Gasoline prices posted a fourth straight weekly increase after
snapping a 10th consecutive week of price gains in the week that started
on Feb. 14.

The average price this week was up 13.9% from Y130.4 per liter
seen a year earlier.

Retail gasoline prices were on a general upward trend from
mid-January 2009 until May 31, 2010, when they began to ease prior to
the recent pickup.

This week, the average price of high-octane gasoline stood at
Y159.3 per liter, up from Y156.3 last week. It hit a record high of
Y196.0 on Aug. 4, 2008.

The average price of diesel fuel stood at Y128.4 per liter, up from
Y125.8 last 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
Y1,649 per 18 liters, up from Y1,620 last week. It posted a record high
of Y2,378 on Aug. 11, 2008.

The average home-delivery kerosene price this week was at Y1,763
per 18 liters, up from Y1,733 in the previous week. It hit a record high
of Y2,484 on Aug. 11, 2008.
** Market News International Tokyo Newsroom: 81-3-5403-4835 **

[TOPICS: M$J$$$,M$A$$$,MAJDS$]