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Pump prices up for 1st time in 10 weeks

Jiji Press TOKYO (Jiji Press) — The average retail price of regular gasoline in the nation as of Monday rose ¥0.2 from a week before to ¥143.30 per liter, the first rise in 10 weeks, the Agency for Natural Resources and Energy said Wednesday.

The rise came as crude oil prices rose and refiners raised wholesale prices after the yen’s weakness pushed up procurement costs.

Pump prices rose in 30 of the country’s 47 prefectures. Ibaraki and Yamaguchi each saw a rise of ¥1.1 and Kanagawa had an increase of ¥1.0.

By contrast, prices dropped in 12 prefectures. Miyazaki posted a decrease of ¥0.8, and Akita and Tokushima each had a fall of ¥0.6. Prices stayed flat in the remaining five prefectures.

Retail gasoline prices are expected to “remain almost flat” next week as the effects of the yen’s depreciation are likely to offset those of falling crude oil prices, said an official at the Oil Information Center, which conducts the price survey for the government agency.

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