Japan Moves to Shield Consumers from Soaring Gasoline Prices

Japan’s government will implement measures to ensure that the Israel-Iran conflict and potential escalation wouldn’t result in major spikes in gasoline prices in one of Asia’s most oil-import dependent large economies.  Japan is part of the G7 group of the world’s most industrialized nations, but it is exposed to international oil price spikes as it imports most of the oil it consumes. More than 90% of the crude oil Japan imports comes from the Middle East.  Amid the many uncertainties over the ongoing hostilities…