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Idemitsu to Cut Wholesale Gasoline Prices
 

Tokyo, Oct 10, 2008 (Jiji Press) - Major Japanese oil refiner Idemitsu Kosan Co. <5019> said Friday it will lower its wholesale gasoline prices by 6 yen per liter on average on Monday.

The cut reflects a drop in market prices stemming from declining crude oil prices.

The move is expected to push retail gasoline prices down further. The nationwide average was at 164.7 yen per liter as of Monday.

By Jiji Press, (c) Jiji Press

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