Japan lowers gasoline subsidy to 31.4 yen/liter

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TOKYO — Japan lowered its gasoline subsidy for oil distributors to 31.4 yen (23.3 cents) a liter for the seven days from Thursday, versus 37.7 yen every week earlier, the trade ministry stated on Wednesday.

The momentary subsidy program was adopted in January to cushion the blow from excessive crude costs due to tight international provides, later exacerbated by the Russia-Ukraine battle. ($1 = 134.9800 yen) (Reporting by Yuka Obayashi; Modifying by Jacqueline Wong)

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