Japan gasoline prices at highest in over 2 years

Gasoline prices at the pump in Japan are at the highest level since November 2018. Crude oil prices have risen on mounting expectations of economic recovery in the United States and Europe amid progress in coronavirus vaccinations.

The Oil Information Center says the nationwide average retail price of regular gasoline was 152.9 yen per liter, or about one dollar and 40 cents on Monday. That is up 0.4 yen from a week earlier.

Crude prices have also risen after a decision by key producers including Saudi Arabia and Russia to stick to their plan to only gradually increase output through July.