Japan plans to scale back gasoline subsidies from December into early spring

Prime Minister Sanae Takaichi announced a plan to gradually reduce Japan’s gasoline subsidies from December into early spring, Bloomberg reports. The government plans to raise its ¥170-per-liter subsidized retail-price benchmark by ¥5 each month. Bloomberg also reports that electricity and gas bill support will begin in December. The Business Times reports that Takaichi gave no date for fully ending the fuel subsidy.