The average retail price of kerosene rose 22 yen this week to 1,302 yen per 18 liters, setting an all-time high for the third week in a row as severe weather jacked up demand across the country, the Oil Information Center said Friday.
Kerosene spiked by about 50 yen on Dec. 12 as Nippon Oil Corp. and other major distributors last month raised wholesale prices 1 yen due to a jump in crude oil prices.
Distributors are boosting production and imports of kerosene to meet the jump in demand, said the industry body, which began tracking kerosene data in 1987.
The retail price of regular gasoline is averaging 129 yen per liter nationwide, while high-octane gas is fetching 140 yen. Prices for both have stayed flat for four straight weeks.