The average retail price of regular gasoline was 139.50 yen per liter as of Monday, down 0.70 yen from the previous week and falling below 140 yen for the first time in three months, the Oil Information Center said Wednesday.
The fall in the price of gas is gaining momentum and there is speculation that it will go on dropping as crude prices fall. Gas stations in some parts of the Tokyo metropolitan area -- where competition is fierce -- have reduced their regular gas prices to below 130 yen, center officials said.
Gasoline prices are expected to fall further as oil wholesalers' recently cut the prices of gasoline and other petroleum products for shipment in November by margins of between about 1.0 yen and 3.50 yen per liter.
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