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Japan's gas retail prices likely to hit record high |
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14:03, June 01, 2008 |
Japan's average retail gasoline price is projected to top 170 yen per liter as major oil wholesalers push up the product prices on Sunday with continued rise in world crude oil prices.
Japan's biggest oil distributor Nippon Oil Corp., raised by a record high of 12 yen per liter the wholesale prices of its gasoline and other petroleum products for shipments in June while other major wholesalers increased by some 10 yen per liter.
Retail gas price fell temporarily to the 130-yen level in April following the expiration of higher gas tax bill on March 31. On May 1, it went back to normal level after the restoration of the 25-yen surcharges.
Source: Xinhua
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