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Translation - English Possibility of further gas price increases over the holidays
Recently the price of gas has been on the rise. During Golden Week there is a possibility of further price increases; this will become a burden to those who are planning for trips by car.
The sale price of regular gasoline has been on the rise for 10 consecutive weeks beginning in February of this year. On the 22nd of this month, the country average was 148.4 yen per liter, a more than 4 yen increase compared to the same time period last year.
Furthermore, in accordance with the international price increase of crude oil, major oil distributors are raising the wholesale price of gasoline ahead of the long holiday.
The retail price at the pump will vary depending on each gas station's business strategy, but there is also the possibility that prices will be raised during the holidays according to the wholesale increase.
If the retail price surpasses 150 yen per liter during the long holiday, it will be the first time since the holidays of 2014.
In general, it is said that if gasoline prices surpass 150 yen, then the tendency of drivers to avoid filling their tanks until full or limiting gas consumption emerges.
Mitsubishi UFJ Research and Consulting's head research Tomomichi Akuta, who is familiar with the trends of the crude oil markets, says that "I don't think the gasoline high is to the extent that one should change their Golden Week driving plans, but even so, it will be a slight blow to consumers' wallets."
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Bachelor's degree - UNC-CH
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Years of experience: 4. Registered at ProZ.com: Sep 2020.
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