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Gasoline prices take a new jump

Date Posted: 2007-07-05

The price for a liter of gasoline at Japanese gas pumps is going up as wholesalers boost their prices 2-4 yen.

Major petroleum wholesale distributors jacked up the price just ahead of the summer travel season, a move expected to push gasoline prices back above 140 per liter. Some stations in mainland Japan have already imposed the new prices, while others in Tokyo and other major cities say they will increase prices soon. Prices were at record 144 per liter last September, but falling crude prices led to major reductions this Spring. The average price for one liter fell to 128 in March, but has inched back up to a nationwide 138.9 average last week.

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