Wednesday, August 03, 2005

REFLATION PERSCRIPTION HAS SIDE EFFECTS

Gasoline prices hit 12-year highThe price of nonpremium gasoline at the pumps was 128 yen per liter on average as of Monday, the highest level in 12 years, according to the Oil Information Center.
Prices rose 3 yen from the previous week, reaching their highest level since Aug. 30, 1993. The culprit is record-level crude prices, the industry body said Wednesday.
Oil distributors have passed on some of the increased oil import costs to gas stations by raising wholesale prices by more than 3 yen this month, it said.
The price of premium gasoline rose by 2 yen to 139 yen per liter, while that of diesel oil was up 2 yen to reach 104 yen.
The Japan Times: Aug. 4, 2005

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