Japan Releases Oil Reserves to Ease Gasoline Prices

Japan's Prime Minister Sanae Takaichi announced the country will release oil reserves as early as Monday to ease gasoline price pressure. The move comes amid Middle East war supply concerns, with Japan acting ahead of possible IEA-coordinated releases. Japan's high dependence on Middle East oil and expected significant import decreases through the Strait of Hormuz prompted the action. The government will coordinate with G7 and IEA to prevent petroleum disruptions while targeting gasoline prices around 170 yen per liter (below last year's 178 yen average). This affects consumers facing rising fuel costs and businesses reliant on stable energy supplies.

SOURCE: https://www.channelstv.com/2026/03/11/japan-to-release-oil-reserves-monday-takaichi/