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Japan to end oil product subsidy in September
Japan's trade and industry ministry (Meti) will end its oil product subsidy at the end of September, in consideration of recent crude oil prices. Meti announced on 26 May that it will reduce the subsidy from June onwards until September, when it will be terminated at the end of that month, as crude values have fallen to the same levels when the measure was implemented in November 2021. Meti will cut the funding amount by 10pc every two weeks. But this decision may change depending on crude prices, Meti added. Meti started providing the subsidy in January 2022 when gasoline retail prices exceeded ¥170/litre, with ... (full story)
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- Posted: May 26, 2023 2:20pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 106
