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Japan’s gasoline value falls beneath 175 yen

TOKYO, Oct. 18 (Xinhua) — The common retail value of normal gasoline in Japan as of Monday fell 2.2 yen (0.015 U.S. {dollars}) from every week earlier than to 174.7 yen (1.17 U.S. {dollars}) per liter, down for the sixth straight week, the business ministry mentioned on Wednesday.

The value was beneath 175 yen for the primary time since July 24, which signifies that the federal government’s goal of reducing the worth to round 175 yen by the top of October has been met, due largely to its expanded subsidies to curb rising gasoline costs.

Without the subsidies, the typical pump value would have been 34.6 yen greater at 209.3 yen, in response to the ministry.

In the nation, the typical value ranged from 167.1 yen in Iwate to 186.2 yen in Nagasaki and was beneath 175 yen in 27 prefectures.