Japan Petrol Price Hits Record-High 190.80 Yen Per Litre Amid Iran Crisis

TOKYO, March 18 (Bernama-Kyodo) -- The average retail petrol price in Japan has hit a record-high 190.80 yen (US$1.2) per litre, reflecting higher crude oil prices amid the Iran war, industry ministry data showed Wednesday.

According to Kyodo news agency, the average price as of Monday was up 29.0 yen from March 9, rising for the fifth straight week and eclipsing the previous all-time high of 186.50 yen marked in April 2025.

The US-Israeli attacks on Iran launched on Feb 28 and Iranian retaliation against Gulf countries have heightened energy supply concerns in resource-poor Japan.

The increase came before the start of state subsidies to keep the price at around 170 yen.

Prime Minister Sanae Takaichi announced the measure last week, citing the possibility that the price could surpass 200 yen and saying a government fund will be utilised.

The ministry said Wednesday subsidies of 30.20 yen per liter will be provided to petroleum suppliers for the week from Thursday.

-- BERNAMA-KYODO