Japan starts new gasoline subsidy to cut prices by 10 yen per liter

The Japanese government started Thursday a revamped gasoline subsidy designed to cut prices by 10 yen ($0.07) per liter to help ease cost-of-living pressures for consumers ahead of an upcoming parliamentary election.Under the previous scheme introduced in January 2022, the government had subsidized wholesalers to keep regular gasoline prices at around 185 yen per liter, but will now provide a fixed sum regardless of prices, which have recently dropped below that benchmark.The government subsidy aims to reduce the wholesale gasoline price by 7.40 yen per liter in the first week, a targeted 5…READ FULL ARTICLE