Japan to Tap $7 Billion from Government Fund to Subsidize Gasoline Prices

Japan’s government on Friday decided to tap $7 billion from its contingency reserves to keep subsidies for gasoline and other fuels, even as it plans to gradually scale back the support from December. 1 trillion Japanese yen from the reserve funds to continue capping retail gasoline prices amid soaring oil and fuel import costs, Japanese media reported.

10 per gallon. However, the subsidies for gasoline, diesel, and jet fuel are costing Tokyo several billion dollars every month, increasingly weighing on Japan’s public finances. 032, per liter every month. Takaichi, however, wouldn’t say when the government would fully phase out the subsidy program.