CTV( Japan) Gasoline prices at the pump in Japan have hit a record high amid the ongoing turmoil in the Middle East.
The Oil Information Center says, as of Monday, a liter of regular gasoline averaged 190.8 yen, or 1.20 dollars per liter. That was up about 18 percent from a week earlier, and the fifth straight week of increase. It is also the highest price since 1990, when the survey began in its current form.
A government initiative to keep the retail price of gasoline at around 170 yen per liter will start with fuel to be shipped out on Thursday.
The effect is expected to be reflected at the pump in one to two weeks.
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