Japan's gasoline price remains unchanged following period of decline

The average retail price of regular gasoline in Japan was unchanged during the week to Monday, following 13 straight weeks of decline, a government agency said Wednesday.

The average price stood at 151.60 yen per liter as of Monday according to the Agency for Natural Resources and Energy, an affiliate of the Ministry of Economy, Trade and Industry.

While the downtrend had been caused by tough competition among retailers, an official of the Oil Information Center, which conducts the survey for the government, said, "Demand for gasoline seems to be recovering, and competition has settled down."

The average retail price of both high-octane gasoline and gas oil also remained unchanged, at 162.40 yen per liter and 131.80 yen per liter, respectively.