Japan to roll out gasoline subsidies amid record-high prices

Japan will introduce gasoline subsidies as national average retail prices exceed ¥190 per liter amid record highs.

The Japan Times reports that Japan plans to roll out gasoline subsidies in response to record-high prices, with the national average retail price exceeding ¥190 per liter. Keywords associated with the article include energy, oil, Iran, Middle East, Japan, and Ryosei Akazawa. Published on March 18, 2026, the news highlights the government's measure to ease consumer burdens. While Middle East tensions may contribute to the price surge, specifics remain unclear in the available details.

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Illustration of rising fuel prices at a German gas station amid Iran war escalation, showing shocked drivers and political calls for intervention.
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Oil prices rise up to 14 percent due to Iran war

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The escalation of the Iran war is driving up oil prices and causing noticeable increases at German gas stations. Diesel now costs an average of 2.04 euros per liter, gasoline 1.94 euros. Politicians are calling for government interventions against rising fuel costs.

Gasoline and diesel prices rose moderately in South Korea on Sunday as the government considers adopting a price cap system amid concerns over rising energy prices due to the escalating Middle East conflict. According to the Korea National Oil Corp., the nationwide average gasoline price reached 1,893.3 won ($1.27) per liter, up 3.9 won from the previous day, while diesel increased 4.8 won to 1,915.4 won per liter.

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The Japanese government plans to sell crude oil from national reserves at prices from before the Iran war. Officials expect refiners buying at these low prices will not then sell their products at higher rates to pocket extra profits.

The Automatic Fuel Pricing Committee raised prices for all fuel categories by 15 to 22 percent at 3 a.m. on Tuesday. This sudden mid-week decision breaks the normal quarterly review pattern, with increases typically issued at the week's end. It followed a meeting where Prime Minister Mostafa Madbuly discussed options with ministers, including Petroleum Minister Karim Badawy, to address a potential energy crisis if the US-Israeli war on Iran persists.

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The Brazilian government announced on Monday (6) extra subsidies for diesel and cooking gas, plus zeroing PIS/Cofins on biodiesel and aviation kerosene. The measures aim to curb the war in Iran's impact on fuel prices. The total estimated cost is R$ 31 billion, offset by an oil export tax.

Muling nagtaas ng presyo ng gasolina ang mga pangunahing kumpanya ng langis sa Pilipinas ngayong araw, na ang ikapitong sunod-sunod na linggo ng pagtaas para sa diesel at kerosene. Ang mga pagbabago ay kasama ang P1 kada litro para sa diesel at P0.60 para sa gasolina at kerosene. Ito ay dahil sa pabagu-bagong presyo ng langis sa buong mundo dahil sa tensyon sa pulitika.

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Fuel prices in Brazil rose for the second consecutive week, according to ANP data released on March 13, 2026. Diesel saw an 11.8% increase, while gasoline rose 2.5%, reflecting the impacts of the war in Iran on international oil prices.

 

 

 

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