Overview
- METI’s Nov. 10 survey shows the national average price for regular gasoline at ¥173.50 per liter, down ¥0.10 week over week for the first decline in two weeks.
- The subsidy paid to oil wholesalers rises from ¥10 to ¥15 per liter starting Nov. 13 to suppress retail prices.
- Retail pump prices are expected to reflect the larger subsidy over several days to about a week as it passes through supply chains.
- Prefecture data show prices fell in 25, were flat in 5, and rose in 17, with a low of ¥167.40 in Saitama and a high of ¥183.90 in Kagoshima.
- Crude oil markets showed no notable movement during the period, pointing to policy as the main driver of recent price stability.