The price of unleaded gasoline sold on US military installations in Japan has gone up to USD 4.004 per gallon. A price of $3.47 per gallon for unleaded is available only at Marine Corps Air Station Iwakuni. That price has been unchanged since December.
The average US mainland price June 28 was 4.59 per gallon. The June 28 Japan nationwide average price for one gallon of regular was USD 6.20 per gallon (sold at JPY163.88 per liter). convert$
The price is expected to rise to JPY180 by mid-July.
At least one Japanese oil company has surplus gasoline that could be exported to the US. Reuters reports Nippon Oil Corp President Shinji Nishio said Japan’s oil demand will decline 2 percent per year through 2010. But as the Asian market is set to grow 4-5 percent a year, Japan can export domestic surplus overseas. He said Nippon Oil had considered shipping gasoline to the United States to meet peak summer demand, but it was difficult due to the variety of gasoline specifications that exist in the country.
In May 2008, the U.S. Department of Energy, Japan’s trade ministry and oil companies including Exxon Mobil Corp and Nippon Oil held a meeting in San Francisco to discuss gasoline exports to the US from Japan. According to the Reuters story, Japanese exports to the United States of distillates such as gas oil have been steadily increasing, but exports of gasoline are relatively uncommon. The meeting ended with no detailed arrangements of exports, but both countries agreed that the US would stand to gain as it has consistently suffered from a lack of refinery capacity and gasoline shortages, especially in the summer.
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