Gasoline prices set to rise above 200 yen per liter after Middle East attacks

Gasoline wholesale prices in Japan are rising by 26 yen, with retail prices expected to exceed 200 yen per liter due to surging crude oil costs. The Nikkei stock average fell sharply, posting its third-largest drop ever, as markets reacted to the oil price spike. The price increases follow attacks by the U.S. and Israel on Iran, which have disrupted shipping in the Strait of Hormuz and caused global oil market turmoil.