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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Brazil's average diesel price to distributors climbed 40% in early March to R$ 5.36 per liter following intensified US and Israeli attacks on Iran, per ANP data. Pump prices rose 20% by late March. Building on the March 12 federal tax exemption, the Lula administration is pressuring fuel stakeholders to limit consumer pass-throughs and fast-tracking a diesel subsidy ahead of October elections.

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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Oil prices peaked above $114 per barrel on March 9 as the Iran war intensified, building on yesterday's surge past $110. Indian markets plunged amid fuel cost fears, while Asian governments rolled out measures to shield consumers from spiking prices.

 

 

 

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