{
  "id": 16146507,
  "title": "Oil on the boil: Japan mulls phasing out gasoline subsidies from December - What to know",
  "url": "https://urgent.news/2026/10/23/oil-on-the-boil-japan-mulls-phasing-out-gasoline-subsidies-from",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-23T02:52:08.000Z",
  "source": {
    "name": "Live Mint",
    "slug": "live-mint",
    "url": "https://www.livemint.com/news/world/oil-on-the-boil-japan-mulls-phasing-out-gasoline-subsidies-from-december-what-to-know-11792721503504.html"
  },
  "original_language": "en",
  "account": "The Japanese government is contemplating reducing gasoline subsidies starting in December, according to a Reuters report. The move follows growing concerns over the sustainability of the funding for this costly measure. Implemented in March as a response to soaring oil prices due to the US-Israeli conflict with Iran, the policy requires significant financial resources each month. As crude oil prices remain elevated, the program has been draining a supplementary budget of 3.1 trillion yen since June. Officials told Reuters that a plan under review by the government and the ruling coalition aims to gradually decrease weekly payouts to fuel distributors, potentially lowering the average retail price of gasoline to around 175 yen per litre in December and 180 yen by January. The reduction in gasoline subsidies comes ahead of Prime Minister Sanae Takaichi's plan to decrease the consumption tax on food and beverages in April, as households are expected to feel less financial pressure following the tax cut.",
  "summary": "Implemented in March as an emergency step, the policy was designed to protect businesses and households from skyrocketing oil prices triggered by the US-Israeli war with Iran.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}