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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A crowded French gas station with long lines of cars and a prominent fuel price sign showing record highs due to the Middle East crisis.
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Fuel prices hit new high in France amid Middle East crisis

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Gasoline prices reached their highest level since the start of the Middle East conflict on Wednesday, May 6. The average price of super unleaded 95 stood at 2.03 euros per liter. The increase stems from the war and the paralysis of the Strait of Hormuz.

The Japanese government is considering subsidies for electricity and city gas this summer, following its earlier gasoline subsidies. Rising energy prices tied to the Iran conflict are expected to push fees higher around June.

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South Korea lowered price ceilings on fuel products on Friday. Finance Minister Koo Yun-cheol vowed to freeze electricity and gas rates in the second half of the year.

Prime Minister Kim Min-seok said Wednesday the government will decide whether to extend fuel price caps after a careful review, as the temporary measure expires this week. Introduced in mid-March to counter supply disruptions from the Middle East conflict, the system has shown positive effects despite mixed opinions. Kim made the remarks at a meeting on the crisis's economic impact.

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Finance Minister Koo Yun-cheol said Monday that temporary price caps on fuel products will remain in place for some time due to instability in the Middle East.

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