NIPPON




 

Japanese Prime Minister Shigeru Ishiba plans to launch a new program next month to reduce gasoline prices by 10 yen per liter, in response to U.S. President Donald Trump's tariff measures and the rising cost of living, informed sources said Tuesday.

He also plans to bring back subsidies aimed to cut down on electricity and gas bills during the July-September period, as part of the central government's efforts to tackle the torrid summer heat, according to the sources. Such subsidies had been provided up until March this year.

The government is now not expected to submit a fiscal 2025 supplementary budget bill featuring cash handouts during the ongoing ordinary session of the Diet, Japan's parliament.

 

By implementing measures in place of the proposed extra budget, Ishiba hopes to alleviate the financial strain on members of the general public in their daily lives ahead of a House of Councillors election to be held this summer.

Currently, the government is offering oil wholesalers subsidies to ensure that gasoline prices are kept at around 185 yen per liter.

Ishiba is considering implementing a program starting next month to set the gasoline price reduction rate at 10 yen, instead of deciding target gasoline prices, the sources said.