TOKYO (MNI) – The average price of regular gasoline in Japan this
week hit a nearly 16-month low of Y142.4 ($1.80) per liter, or $6.84 per
gallon, down from Y143.9 last week and marking an 11th straight weekly
drop, data released by the Agency for Natural Resources and Energy
showed Wednesday.
The average retail price this week was 3.7% below the Y147.8 per
liter price seen a year earlier, posting a fifth straight week of a
year-on-year decline following a 2.4% dip in the previous week.
It was the lowest since Y139.0 in the Feb. 28, 2011 week.
In the May 21, 2012 week, the average price of regular gasoline
marked the first year-on-year drop since the week that started on Nov.
24, 2009.
Before the recent decline, the price reached Y158.3 in the week
starting on April 2, the highest in three and a half years since Y161.6
seen in the week of Oct. 14, 2008.
The average price of high-octane gasoline stood at Y153.2 per liter
this week, down from Y154.7 in the previous week. It hit a record high
of Y196.0 on Aug. 4, 2008.
The average price of diesel fuel was at Y124.1 per liter, down from
Y125.4 in the previous week, the 11th straight weekly fall. 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
Y1,629 per 18 liters this week, down from Y1,645 last week. It posted a
record high of Y2,378 on Aug. 11, 2008.
The average home-delivery kerosene price was at Y1,747 per 18
liters, down from Y1,764 the previous week. It hit a record high of
Y2,484 on Aug. 11, 2008.
tokyo@marketnews.com
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