According to the Petroleum Information Center, which is commissioned by the federal government to analyze gasoline costs, the nationwide common retail value of standard gasoline as of February 27 was 167.4 yen per liter, unchanged from final week.
According to the Petroleum Information Center, along with the Russian authorities’s coverage of unilaterally decreasing crude oil manufacturing from March in response to sanctions imposed by the G7 = seven main international locations, the yen alternate fee has risen within the international alternate market. is on a declining pattern, which means that crude oil procurement costs are rising not too long ago.
On the opposite hand, gasoline costs remained flat because of the impact of presidency subsidies.
Starting March 2nd, the Ministry of Economy, Trade and Industry will present a subsidy of 17 yen per liter for wholesale fuel stations.
Regarding the outlook for the longer term, the Petroleum Information Center mentioned, “Gasoline costs are anticipated to stay flat or fluctuate barely subsequent week because of the results of presidency subsidies, however we are going to proceed to pay shut consideration to the impression of Russia’s manufacturing cuts.”