• SHARE

The average retail price of regular gasoline across Japan hit a 12-year high of 129 yen per liter, including tax, this month as crude oil prices soared to record levels, the Oil Information Center said Tuesday.

The price as of Aug. 10 was the highest since March 1993, representing a 4 yen rise from the previous month. The average price rose for the second straight month.

The average price of premium in August also rose 4 yen from the previous month to 140 yen and the average diesel oil price was up 4 yen to 105 yen. The price of kerosene climbed 48 yen per 18 liters to 1,209 yen.

Refiners have raised wholesale prices of petroleum products by 3 yen per liter or more for August and are expected to lift them by 2 yen or more for September, industry sources said.

The U.S. Department of Energy said Monday the average retail gas price across the United States hit $2.61 per gallon, rewriting the record high for the third straight week.

The price, which rose 6.2 cents from the previous week and 72.8 cents from a year earlier, has been rising in tandem with soaring crude prices, the department said.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW