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Kerosene Price Hits New High for 5th Straight Week in Japan

Posted on: Wednesday, 18 January 2006, 18:02 CST

By Kyodo News International, Tokyo

Jan. 18--TOKYO -- The average retail price of kerosene in Japan in the week to Monday hit a new high for the fifth straight week as the country was hit a cold spell, an industry body said Wednesday.

The average price as of Monday rose by 32 yen per 18 liters from the previous week's level to 1,368 yen, the highest since the Oil Information Center began to compile data in 1987, the center said.

The price represented a 356 yen rise from the year-before level.

Nippon Oil Corp. and other petroleum product wholesalers are planning to increase kerosene imports to meet heavy demand this winter.

Petroleum Association of Japan President Fumiaki Watari told a news conference Wednesday that kerosene demand might have peaked and is unlikely to increase further.

He said the association will urge retailers to refrain from raising prices too easily.

The center also said the average retail price for regular gasoline remained at 129 yen per liter for the sixth week.

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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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