Japan Weighs Gasoline Subsidy Cuts as Energy Costs Soar

The Japanese government may start reducing its financial support for retail gasoline prices from December as payments become difficult to sustain, Reuters has reported, citing unnamed sources from the ruling party in the country. Introduced in March, soon after the war in the Middle East began, subsidies for gasoline are costing Tokyo several billion dollars every month, the report said, as the government aimed to keep the average national price at $1.09 per liter. According to plans currently being discussed by the government and the ruling party,…