Japan Keeps Lid on Gas Prices Amid Middle East Conflict

Japan is taking steps to stabilize gas prices in light of the ongoing Middle East conflict, which has put pressure on energy supplies. Prime Minister Sanae Takaichi announced that the government will maintain subsidies to keep gasoline prices at around 170 yen per liter.

Takaichi instructed officials to prepare for funding and make necessary arrangements to continue the program, given the uncertainty surrounding crude oil prices.

The subsidies, which are currently around 20 yen per liter, have been in place since early April when gas prices peaked at nearly 50 yen per liter.