Japan's gasoline prices rise for 4th straight week

The rising cost of crude oil is beginning to take a toll on Japanese society. Prices of gasoline at the pump have risen for the fourth straight week.

The Oil Information Center, which monitors price trends, says as of Monday, a liter of regular gasoline averaged 161.8 yen, or about a dollar and 2 cents. That was up roughly 2 cents from the week before and the first time in three months it topped 160 yen.

The surge reflects the rising trend in crude futures, a guidepost for Asian markets.

The center says gasoline is likely to keep getting more expensive next week.

Meanwhile, the government is considering support for people to cope with higher gasoline costs, as well as electricity and gas utility bills.

Chief Cabinet Secretary Kihara Minoru said plans are in the works to unveil the package at an appropriate time.

He also said: "We will closely watch how the Middle East situation affects the economy. We will take all measures for fiscal and economic stability in line with price trends."

Kihara added that the Cabinet has begun considering ways to diversify crude oil supplies.

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