ANNOUNCEMENT 04 Mar 2022

4 March, 2022 - The Japanese government announced it was increasing subsidies to stabilise domestic petroleum product prices.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Japan Cabinet Secretariat, 4 March 2022. (原油価格高騰に対する緊急対策)
https://www.cas.go.jp/jp/seisaku/genyu_kakau/dai1/siryou2.pdf

Japan Ministry for Economy, Trade and Industry (METI) Enechou, homepage for the scheme (燃料激変阪和HP)
https://nenryo-gekihenkanwa.jp/

Inception date: 04 Mar 2022 | Removal date: open ended

Price stabilisation

On 4 March, 2022, the Japanese Ministry for Economy, Trade and Industry (METI) announced it was increasing the amount of subsidy awarded to retailers through a petrol price stabilisation scheme fivefold, from JPY 5/litre to JPY 25/litre (USD 0.0433 to 0.216). This was stated to be in response to the change in oil prices as a result of the Russian invasion of Ukraine. The measure was stated to be effective immediately.

AFFECTED SECTORS

 

AFFECTED PRODUCTS