Japan Considers Phasing Out Gasoline Subsidies from December
The Japanese government is considering reducing gasoline subsidies starting December due to concerns over funding shortages. Introduced in March to shield businesses and households from rising oil prices caused by the US-Israeli-Iran conflict, the subsidy caps gasoline prices at about 170 yen per litre. The program is depleting a 3.1 trillion yen budget. Plans include gradually raising prices to 175 yen in December and 180 yen by January.
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