Gasoline prices reach highest level since Oct 2008
Aug. 08, 2013 - 06:41AM JST
TOKYO — The average retail price of regular gasoline topped 160 yen this week for the first time since October 2008.
The Agency for Natural Resources and Energy said Wednesday that the highest price on Monday was 160.1($1.66 us) yen per liter ($7.02 us per gallon) in Kochi Prefecture, Sankei Shimbun reported. Prices were up in all prefectures, with the highest being in Kochi (up 6.2 yen over last week) and Tottori (up 4 yen over last week).
The agency said the rising prices were due to the weak yen and turmoil in Egypt which has pushed up the price of crude oil.