Fuel cost is high everywhere, Japanese government to release strategic oil stockpiles this week

Japanese Prime Minister Sanae Takaichi announced Tuesday that the government will begin releasing strategic oil product stockpiles this week to address rising fuel prices caused by the Middle East conflict.

The prime minister stated that Japan has already implemented subsidies and released some private stockpiles in response to the fuel price increases.

Takaichi had previously indicated that Japan would take this step but had not specified a timeline until now.