According to data released by Japan's Ministry of Economy, Trade and Industry on March 18, the national average price of regular gasoline rose to 190.8 yen per liter on March 16, an increase of 29 yen from the previous week. This marks the highest price on record since statistics have been kept. Due to the impact of the situation in Iran, Japanese gasoline prices have now risen for five consecutive weeks.
Japan's crude oil imports are heavily reliant on the Middle East. Analysts have pointed out that if tensions with Iran persist over the long term, it could have a significant impact on Japan.
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