TOKYO (MNI) – The average price of regular gasoline in Japan stood
at Y152.5 ($1.89) per liter, or $7.18 per gallon, on May 2, posting the
first fall in 11 weeks, but it stayed near a 30-month high of Y152.7 hit
in the previous week, data released by the Oil Information Center showed
on Monday.

On April 25, regular gasoline prices reached their highest level in
more than 30 months, since the week that started on Oct. 20, 2008, when
the average price stood at Y157.4.

Regular gasoline prices posted a seventh straight weekly gain until
the week that started on April 4 and were flat in the following week.

The average price this week was up 9.9% from Y138.7 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.

In the latest week, the average price of high-octane gasoline stood
at Y163.3 per liter, down from Y163.5 in the previous week. It hit a
record high of Y196.0 on Aug. 4, 2008.

The average price of diesel fuel stood at Y132.7 per liter last
week, up from Y132.6 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
Y1,716 per 18 liters last week, up from Y1,713 in the previous week. It
posted a record high of Y2,378 on Aug. 11, 2008.

The average home-delivery kerosene price this week was at Y1,830
per 18 liters last week, up from Y1,827 in the previous week. It hit a
record high of Y2,484 on Aug. 11, 2008.

tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4835 **

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