Japan pump price down from record high
TOKYO —
The average retail price of regular gasoline in Japan has fallen from its record high amid slumping gasoline consumption, the Oil Information Center said Wednesday.
As of Monday, the average price stood at 184.4 yen per liter, down 0.7 yen from a week earlier, according to the center.
Higher pump prices dampened gasoline consumption during what is usually a period of strong demand ahead of the holiday season.
Gas stations apparently lowered retail prices due to intensifying sales competition.
The average retail price hit an all-time high of 185.1 yen on Aug. 4, reflecting wholesale price hikes by distributors including Nippon Oil Corp.
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If crude oil prices remain on the current downtrend, wholesale prices for September may fall by around 10 yen from the previous month.
JCN
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7 Comments
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0
Statistician
Speculators took your money. They will take it again.
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noborito
Completely like drug dealers. One station near me was selling it for 176 a liter (reg) and a 10 minute drive into Tokyo was selling it for 167. 9 yen cheaper and nearer central Tokyo. Something is wrong with this picture. Setagaya is cheaper than Kawasaki. Japanese should boycott these stations. The 10 minute drive saved me nearly 700 yen in my fillup. That isn't small change. 3 times a month 2100 yen or 25,200 yen a year. For a 10 minute drive.
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stipend
Keep it high. I'll gladly pay more for produce if the high gas reduces people idling, feet up, sleeping, engines running with abandon.
Hmm.. no change so far..
noborito. So with the return trip that's like an extra 12hrs/yr languishing in your car? Switch to short lattes, mate! You'll likely save as much money and you'll enjoy less stress. :-)
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presto345
Hmm.. no change so far..
Their bosses, companies are paying. Rather, the customers are paying, so who cares?
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Altria
At least stations having different prices shows there's a bit of competition - better than every company raising their prices to match each other exactly.
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