Japan launched measures to curb oil prices for the first time, with a subsidy of 3.4 yen per liter
At a press conference after the cabinet meeting today, Keiichi Morida, Japan's economic and industrial minister, announced that he would launch the first restraining measures against the soaring gasoline prices. As of the 24th, the national average retail price of ordinary gasoline rose to 170.20 yen per liter, exceeding the start-up standard. Starting from the 27th, gasoline, kerosene, light oil and heavy oil will be subsidized to refiners at 3.4 yen per liter.
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