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Gasoline prices continued to rise across Japan for the 7th straight week. On Wednesday, the average price of regular gasoline in Tokyo was 158.3 yen per liter.
Prices have risen by 14.4 yen since January, the Oil Information Center said on its website Wednesday. The rising price of crude oil and uncertainty concerning Iran are causing the increase, the center said.
The high prices are hitting transportation and delivery companies particularly hard, with major operators reporting that their monthly gasoline expenditures have jumped by about 200,000 yen per vehicle since January, according to the Ministry of Economy, Industry and Trade.
© Japan Today
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sfjp330
skotmanforyouApr. 05, 2012 - 11:35PM JST . The dollar was at 150 yen more than 12 years ago and gasoline prices were at about 80 yen then..however oil was at about 30 dollars a barrel....I hope this will enlighten you
Well, the real problem is China adding 16 million vehicles a year and continues to increase import for oil. If you look back 12 years ago, China and India's domestic oil demand was fraction of what it is. U.S., Europe, and Japan no longer has the monopoly in oil purchase.
skotmanforyou
*Harry_GattoApr. 05, 2012 - 12:50PM JST
I find the current high price of petrol a little hard to reconcile, oil prices are not too high right now and, oil is sold in US$. At the current rate of exchange the price of oil products should not be so high.
Can anyone enlighten me?*
The dollar was at 150 yen more than 12 years ago and gasoline prices were at about 80 yen then..however oil was at about 30 dollars a barrel....I hope this will enlighten you
KnowBetter
The gas price surge is happening in Canada and the U.S. too. It's worldwide gouging!
What else could it be... a logical price hike? Yeah right.
Gurukun
Dammit!
"dollar?" Sorry, had my ebonics going there for a minute.
Gurukun
Harry Gatto, Thank You! That's what I keep telling my friends. If Gas prices in Japan were under 100 yen per liter when the yen was 150 yen to the dollar, shouldn't the price be almost half per liter in japan...like 60-70 yen per liter if the yen rate is now 80 yen to the dolla?
Harry_Gatto
I find the current high price of petrol a little hard to reconcile, oil prices are not too high right now and, oil is sold in US$. At the current rate of exchange the price of oil products should not be so high.
Can anyone enlighten me?
cactusJack
Gas prices approaching the price of bottled water. Unbelievable.
sfjp330
Wow, the 158.30 yen per liter amounts to over $7.00 per gallon. This is a bad news for Japan. The auto manufacturers in Japan has to invest more into efficient electric vehicle technology and alternative energy.
naruhodo1
There's no such thing as a win win situation. Yen goes down, IMPORTs cost more, and what does Japan lack, natural resources. And if I may add, thanks America for making the world a safer place! Pffft.