TOKYO (MNI) – The average price of regular gasoline in Japan this
week fell to Y158.1 ($1.96) per liter, or $7.45 per gallon, from Y158.3
last week, data released by the Agency for Natural Resources and Energy
showed Wednesday.
The decline in the average price this week was the first in nine
weeks.
The last week’s price of Y158.3 was the highest since Y161.6 seen
in the week of Oct. 14, 2008 and marked the seventh straight weekly
gain.
The recent surge in refined petroleum product prices in Japan
reflects rising crude oil prices in global markets on heightened
tensions over Iran’s nuclear enrichment program and U.S.-led sanctions.
The average retail price this week was 4.2% above the Y151.8 per
liter price seen a year earlier, with the pace of year-on-year gains
decelerating from a 4.3% rise in the previous week.
The average price of diesel fuel was at Y136.9 per liter, down from
Y137.1 in the previous week, the first fall in eight weeks. That
compares with the record high of Y167.4 recorded on Aug. 4, 2008.
The average over-the-counter price of kerosene for heating stood at
Y1,767 per 18 liters this week, up from Y1,766 last week. It posted a
record high of Y2,378 on Aug. 11, 2008.
The average home-delivery kerosene price was at Y1,884 per 18
liters, up from Y1,881 the previous week. It hit a record high of Y2,484
on Aug. 11, 2008.
tokyo@marketnews.com
** MNI Tokyo Newsroom: 81-3-5403-4835 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]