Gas retail prices hit 15-year high in Japan

The average retail price of regular gasoline across Japan has risen to 135 yen (1.21 U.S. dollars) per liter, the highest since February 1991, Japan's Oil Information Center said Monday.

The figure as of May 1 was up 4 yen (0.036 dollars) from the previous week, according to the center.

Wholesale prices of oil products have risen by 4.1-4.3 yen per liter in Japan, starting with shipments in May. The hikes have now been passed on to Japanese consumers.

Kyodo News quoted Vice Economy, Trade and Industry Minister Hideji Sugiyama as saying that sharp rises in retail prices of petroleum products following spikes in wholesale prices "cannot help affecting" households.

Source: Xinhua