Tokyo: Japanese Prime Minister Ishiba Shigeru has announced fixed price cuts on gasoline. Gasoline prices will be lowered by 10 yen, or about 7 cents per liter starting in May.
According to Qatar News Agency, Japan’s broadcaster NHK World quoted the Japanese Prime Minister as saying that he will closely watch the impact of the tariffs announced by US President Donald Trump on businesses and people’s lives and make the utmost efforts to provide support.
Ishiba said that diesel oil will also be cut by 10 yen per liter, heavy oil and kerosene by 5 yen, and aviation fuel by 4 yen. The price cuts will go into effect on May 22.
This means gasoline prices will be at their lowest level since the beginning of the Russia-Ukraine war in 2022.
Ishiba said he has not decided how long the measure will stay in effect.
Ishiba also announced that steps will be taken to support people’s electricity and gas bills during the summer months starting in July, when demand for the utilities tends to rise. He said specific measures will be determined next month.