The retail price of a liter of regular gasoline rose ¥0.10 to an average of ¥143.20 Monday, marking the first weekly rise in eight weeks, the Oil Information Center said
An official from the center Wednesday attributed the increase to an uptrend in global oil prices driven by increasing concern about economic sanctions on major oil power Iran, which is suspected of developing nuclear weapons.
“Sanctions on Iran could continue to affect oil prices in the future, but the situation remains uncertain and retail prices will continue to move narrowly,” the official said.
The average price for high-octane gas rose ¥0.10 to ¥154.00, while light oil also rose ¥0.10 to ¥124.30.