Nippon Oil Corp., Japan's largest oil refiner, said Tuesday it will raise wholesale prices on gasoline and gas oil by 3.1 yen per kiloliter in July due to crude oil price increases.
Among other refiners, Idemitsu Kosan Co. will raise prices in July by 3.4 yen, Japan Energy Co. by 3.6 yen and Cosmo Oil Co. by 3.5 yen. The increases will mostly be passed on to consumers, industry sources said.
Nippon Oil raised gasoline and gas oil prices for four straight months starting in February before cutting them by 1.3 yen per kiloliter in June. The company's increases from February through July will total 12.6 yen per kiloliter.