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Gas prices soar to new record

Date Posted: 2008-08-14

Fueling up continues to become more expensive for Okinawa drivers.
New prices announced by the industry this week show gasoline prices up 4.40 from a week earlier. The Oil Information Center says the national average retail price for a liter of gasoline is now a record 185.10. However, fierce competition between Okinawa gasoline stand operators has so far reined in prices here somewhat with regular gasoline selling between 171 and 174 as of today.
Nippon Oil Corporation is being blamed for the new prices as it jacked its wholesale prices on petroleum products. The Oil Information Center says, though, that other oil refiners and wholesalers are also pushing their prices up to reflect their own higher costs of importing crude oil.

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