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Japan lowers gasoline subsidy to 35.6 yen/litre

Japan lowers gasoline subsidy to 35.6 yen/litre

Reuters · 09/14/2022 01:35
Japan lowers gasoline subsidy to 35.6 yen/litre

- Japan lowered its gasoline subsidy for oil distributors to 35.6 yen (24.8 cents) a litre for the seven days from Thursday, versus 36.5 yen a week earlier, the industry ministry said.

The temporary subsidy programme was adopted in January to cushion the blow from crude prices LCOc1 that rose this year because of tight global supplies and then climbed further following the Ukraine conflict.

The government has recently decided to extend the subsidy programme until the end of December, though it might consider revising the subsidy cap scheme.

($1 = 143.6800 yen)


(Reporting by Yuka Obayashi; Editing by Christian Schmollinger)

((Yuka.Obayashi@thomsonreuters.com; +813-4520-1265;))