Japan Preparing Fresh Measure for Gasoline Price Surge

   Tokyo, June 19 (Jiji Press)--Japanese Prime Minister Shigeru Ishiba said Thursday that the government plans to implement an additional measure on June 26 to prepare for a possible surge in gasoline prices in response to the heightened tensions in the Middle East due to the Israel-Iran conflict.
   The government is expected to use surplus funds generated in April and May in the fund for a subsidy program for curbing gasoline prices.
   Referring to the situation in the Middle East at the beginning of a party leaders meeting, Ishiba emphasized his determination to keep gasoline prices at the current level, the same as around the time Russia started invading Ukraine, to avoid people's lives being serious impacted.
   The government currently provides a fixed-amount gasoline subsidy of 10 yen per liter to oil wholesalers. Due to the subsidy, the average retail price of regular gasoline has stayed below 180 yen per liter.
   As a precautionary measure against a possible jump in gasoline prices, the government plans to increase the amount of the subsidy to curb the average price to around 175 yen per liter.

(2025/06/19-17:53)

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