Key Facts
• Aomori’s regular gasoline price dropped to 169.7 yen per liter on July 16.
• This marks a 0.3 yen decrease from the previous week, continuing a two-week decline.
• Prices returned to the 160-yen range for the first time in three weeks.
• The Energy Information Center attributes the drop to eased Middle East tensions after an Israel-Iran ceasefire.
• Crude oil prices have been declining, leading to lower retail prices.
• Upcoming factors, including peak travel season in Europe and the U.S. and yen depreciation, may cause slight price increases next week.
Summary
Gasoline prices in Aomori Prefecture have dropped to 169.7 yen per liter, marking a slight 0.3 yen decrease from the previous week and a return to the 160-yen range for the first time in three weeks. The Energy Information Center credits this decline to reduced crude oil prices following eased tensions in the Middle East after an Israel-Iran ceasefire. However, factors such as the peak summer travel season in Western countries and ongoing yen depreciation may lead to a slight price increase next week.
