Japan to quintuple gasoline subsidies in wake of $100 crude

Trade ministry is wary of government largesse targeting drivers

Japan has introduced a gasoline subsidy to keep prices steady at the pump. © Reuters

HIROYUKI AKIYAMA, Nikkei staff writer

February 26, 2022 10:04 JST

TOKYO -- The Japanese government plans to expand subsidies designed to control fuel-pump prices as a further spike is anticipated following Russia's invasion of Ukraine.

Under what is termed as a temporary measure, Tokyo currently subsidizes gasoline distributors by up to 5 yen per liter. The cap will be quintupled to 25 yen starting in March. The government is expected next week to release details of the plan.