Wednesday 7 August 2013

Japan: pump price tops 160 yen for 1st time in nearly 5 years

The average retail price of regular gasoline in Japan as of Monday topped 160 yen per liter for the first time since October 2008, government data showed Wednesday.

The increase reflects continuing high prices of crude oil due to concerns about political uncertainty in Egypt as well as the weakening yen.
The average gasoline price climbed 1.3 yen from a week before to 160.1 yen per liter, the Agency for Natural Resources and Energy said.

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