The prices of gasoline and kerosene continue to rise. The government must implement effective measures to support households and companies that are struggling with high fuel prices.
The national average price of regular gasoline was 170.2 yen per liter as of Jan. 24, topping 170 yen per liter for the first time in about 13 years. In response, the government has launched a program to provide subsidies to oil wholesalers for the first time, to curb surging gasoline prices.
From Jan. 27, a subsidy will be paid of 3.4 yen per liter of gasoline sold to wholesalers -- comprising the 0.2 yen in excess of the government-set threshold of 170 yen required to launch the subsidy program, and the 3.2 yen that crude oil prices are expected to rise over the next week. The government plans to review the amount of the subsidies every Wednesday, in principle.
