Japan Keeps Gasoline Price Target Amid Middle East Uncertainty

The Japanese government has decided to maintain its target retail price for regular gasoline at around 170 yen per liter, despite ongoing instability in the Middle East. This decision was made by Prime Minister Sanae Takaichi, who instructed industry minister Ryosei Akazawa to consult with Finance Minister Satsuki Katayama to secure necessary funds.

The government plans to tap into a 2.5-trillion-yen reserve fund for responding to the situation in the Middle East, which was allocated in the fiscal 2026 supplementary budget enacted in June. This move aims to minimize the impact on people's lives and economic activities.