Japan to Boost Effort to Stop Gasoline Stands From Price Gouging
The US-Israeli attack on Iran has upended global oil markets, sending the price of gasoline in Japan to an all-time high last month.
Photographer: Kiyoshi Ota/BloombergJapan is set to go after gasoline gougers, as the war in the Middle East fans record fuel costs.
The government will step up its ability to intervene against fuel stations that overcharge consumers, with the conflict pushing up costs and adding to inflationary pressures. To ensure a recent gasoline subsidy is fully reflected in retail prices, the government will increase the frequency of phone surveys of service stations, according to a letter sent to Japan’s Zensekiren, an association of oil-related businesses, from the Agency for Natural Resources and Energy that was seen by Bloomberg.