The government announced Friday that it will significantly expand a subsidy program to rein in gasoline and other fuel prices.
Given that crude oil prices remain high in the wake of Russia's invasion of Ukraine, the government will raise the current subsidy cap of 5 yen per liter to 25 yen in March. Details will be discussed at a meeting of relevant Cabinet ministers to be held shortly.
Aiming to keep the national average price of regular gasoline at around 170 yen per liter, the government has been providing subsidies to oil wholesalers since January.
