Japan raises gasoline subsidy to maximum of 25 yen per litre
Reuters
Published Apr 20, 2022 01:44AM ET
TOKYO (Reuters) - Japan raised its gasoline subsidy for oil distributors to the maximum figure of 25 yen ($0.1944) a litre for the seven days from April 21, up from 20.3 yen a week earlier, the industry ministry said on Wednesday.
The temporary subsidy programme was adopted in January to mitigate high fuel prices after tight global supplies boosted crude prices, with further pressure added by the Ukraine conflict that began on Feb. 24.
As high energy prices hit homes and companies, the government is discussing the possibility of extending the subsidies and raising the ceiling on them, lawmakers have said.
The programme was most recently extended until the end of April and the ceiling raised to 25 yen a litre from 5 yen.
The government sets the subsidy amount every week if the retail price of gasoline exceeds a threshold of 170 yen.
Monday's retail price was 173.5 yen, down slightly from 174.0 yen a week earlier, the ministry said.
($1=128.5700 yen)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.