Mar 9 • 11:15 UTC 🇯🇵 Japan Asahi Shimbun (JP)

Prime Minister Takaichi: "Measures to prevent gasoline prices from exceeding tolerable levels" - Funding from reserves

Prime Minister Takaichi announced plans to swiftly address the rise in gasoline and utility prices in response to soaring crude oil prices due to heightened tensions in the Middle East.

In a session of the House of Representatives Budget Committee on September 9, Prime Minister Takaichi Sanae articulated the government's commitment to implement measures to counter the increase in gasoline and utility prices caused by the recent surge in crude oil prices. She assured that the government will not delay in deploying necessary interventions, which reflect her administration's awareness of the financial strain these prices are placing on households. The Prime Minister emphasized the importance of timely responses to ensure that gasoline prices do not exceed what the population can tolerate.

Furthermore, Takaichi clarified that despite the rising crude prices, the current situation does not warrant the invocation of collective self-defense measures. She is scheduled to discuss the U.S. response with President Trump on the 19th, which suggests that international cooperation may play a role in addressing these economic challenges. The proactive measures being considered include funding from the reserve budget, indicating an immediate approach to stabilize domestic energy prices without necessitating a supplementary budget.

As concerns over crude oil supply continue to loom, the administration's focus remains on safeguarding consumers from volatile prices. The Prime Minister's statements highlight the delicate balance the government must manage between international energy markets and domestic economic stability. By taking swift action, her government aims to reduce the potential impacts of ongoing global tensions on everyday life in Japan.

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