LDP Proposes Gradual Reduction of Fuel Subsidies

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At some gas stations on the outskirts of Tokyo, a liter of regular gasoline is now selling for 159 yen, about 90 euro cents. The price varies depending on the establishment, but subsidies from the Japanese government are helping to contain it at a time when oil prices are rising. Since March, the executive of Sanae Takaichi has been applying subsidies to operators in the sector with the aim of maintaining the national average price around 170 ye…

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The Liberal Democratic Party (LDP) has reportedly approved a proposal in its Policy Research Council to ask the government to gradually reduce subsidies that keep gasoline prices down. The Yomiuri Shimbun and other newspapers are reporting on this today, and it seems they will be submitting the proposal to the government soon.

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At a press conference following the cabinet meeting on the 27th, Minister of Economy, Trade and Industry Ryosei Akazawa stated that regarding the review of gasoline price control subsidies, which he received instructions from Prime Minister Sanae Takaichi on the 23rd, "we will consider it flexibly while closely monitoring the impact of the situation in the Middle East on future price trends, people's lives, and the economy." He added that specif…

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On the 26th, the Liberal Democratic Party's joint meeting on the situation in Iran compiled a draft proposal to the government regarding the stable supply of energy, in light of the prolonged tensions in the Middle East. The proposal states that current gasoline prices are "less than half the level of European countries and even lower than those of the oil-producing United States," and points out that the mitigation measures implemented to addre…