The retail price for regular gasoline is at its highest level since December 2014, the Agency for Natural Resources and Energy said Wednesday.
The price had topped ¥151 per liter as of Monday, up ¥1.90 from May 21, on speculation that Iranian oil exports will fall in light of America's withdrawal from the 2015 nuclear deal and the resulting imposition of economic sanctions on Tehran.
The price has continued to rise for six consecutive weeks, reaching ¥151 for the first time in about three years and five months, according to the Oil Information Center, which conducted the survey for the agency. The center also forecast a slight increase over the following week.