Key Facts
• On July 22, regular gasoline prices in Toyama Prefecture rose to 175 yen per liter.
• This marks a 0.9 yen increase compared to the previous week.
• The price hike is attributed to increased summer travel demand and the yen’s depreciation.
• The Petroleum Information Center predicts further price increases next week.
• Contributing factors include a slight drop in crude oil prices and reduced government subsidies for oil wholesalers by over 1 yen starting July 24.
Summary
Gasoline prices in Toyama Prefecture have risen for the first time in three weeks, reaching 175 yen per liter as of July 22. This 0.9 yen increase is driven by heightened summer travel demand and the yen’s depreciation. The Petroleum Information Center forecasts continued price hikes next week due to reduced government subsidies for oil wholesalers and the ongoing impact of the weak yen. Despite a slight decline in crude oil prices, these factors are expected to sustain upward pressure on fuel costs.
