Japan Gasoline Subsidies to Hit Zero for 1st Time
Tokyo, April 16 (Jiji Press)--The Japanese government's gasoline subsidies will be set at zero yen per liter for the week from Thursday, down from 4.40 yen the previous week, reflecting lower crude oil prices and a stronger yen, the industry ministry said Wednesday.
It is the first time for the subsidy level to hit zero since the subsidy program began in January 2022.
The program pays subsidies to oil wholesalers when gasoline prices are above 185 yen. In the coming week, prices are forecast to fall below that level.
The program was originally introduced as a temporary measure to support the country's economic recovery from the COVID-19 pandemic, but it has been repeatedly extended due to factors such as Russia's invasion of Ukraine.
More than 8 trillion yen has been budgeted for the program so far.
(2025/04/16-22:02)
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