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Retail Kerosene Price Sets New High for 4th Straight Week

Posted on: Thursday, 12 January 2006, 15:00 CST

By Kyodo News International, Tokyo

Jan. 12--TOKYO -- Retail kerosene prices have set an all-time high for the fourth consecutive week due to brisk demand caused by unusually cold weather this winter, an industry body said Thursday.

The nationwide average retail price of kerosene stood at 1,336 yen per 18 liters as of Tuesday, up 34 yen from a week earlier to the highest level since data began to be compiled in 1987, the Oil Information Center said.

The weekly price hike trails only a rise of 75 yen marked in April last year.

On a year-on-year basis, the average price spells an increase of 320 yen or about 30 percent.

Unusually low temperatures have also boosted the consumption of gas and electricity for heating purposes. On Wednesday, for example, Hokkaido Electric Power Co. and Tokyo Gas Co. saw all-times highs in the daily use of electricity and gas for the third and fifth time this winter, respectively.

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Copyright (c) 2006, Kyodo News International, Tokyo

Distributed by Knight Ridder/Tribune Business News.

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Source: Kyodo News International, Tokyo

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