2021/2022 National fuel subsidy rise
In an effort to cushion domestic consumers from the effects of the global energy crisis, the Japanese government gradually raised national fuel subsidies for gasoline, light oil, kerosene, heavy oil, and aviation fuel, in November 2021, January 2022, March 2022 and April 2022. The subsidies are implemented in cases when retail average domestic gasoline prices exceeds JPY 170/liter, through a scheme targeting oil refining companies.
A JPY 6.2 trillion scheme meant to support more broadly corporate consumers and households was later enacted in May 2022.
Want to know more about this policy ? Learn more