TOKYO (MNI) – The average price of regular gasoline in Japan this
week stayed at the highest level in nearly three and a half years,
rising to Y158.3 ($1.91) per liter, or $7.26 per gallon, from Y157.6
last week, data released by the Agency for Natural Resources and Energy
showed Wednesday.
The price this week remained the highest since Y161.6 seen in the
week of Oct. 14, 2008 and marked the seventh straight weekly gain.
The recent surge in refined petroleum product prices in Japan
reflects rising crude oil prices in global markets on heightened
tensions over Iran’s nuclear enrichment program and U.S.-led sanctions.
The average retail price this week rose 4.3% from the Y151.8 per
liter price seen a year earlier, with the pace of year-on-year gains
accelerating from a 3.9% rise in the previous week.
The average price of diesel fuel was at Y137.1 per liter, up from
Y136.6 in the previous week. That compares with the record high of
Y167.4 recorded on Aug. 4, 2008.
The average over-the-counter price of kerosene for heating stood at
Y1,766 per 18 liters this week, up from Y1,762 last week. It posted a
record high of Y2,378 on Aug. 11, 2008.
The average home-delivery kerosene price was at Y1,881 per 18
liters, up from Y1,880 the previous week. It hit a record high of Y2,484
on Aug. 11, 2008.
tokyo@marketnews.com
** MNI Tokyo Newsroom: 81-3-5403-4835 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]