It is reported that the Japanese government is "bargaining" with domestic wholesalers, demanding a change in the pricing benchmark for gasoline.

NightAirdropper · 2026-03-28T10:29:07+00:00

The Japanese Ministry of Industry has requested domestic wholesalers to switch to Brent crude oil pricing to control the rise in gasoline prices. The current price of Brent crude oil is about $100 per barrel, which is lower than Dubai crude oil. Although this guidance is not legally binding, companies usually follow it.

NightAirdropper

2026-03-28 10:29:07

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According to a report by Reuters, documents show that Japan’s Ministry of Industry has requested domestic wholesalers to switch from using the Dubai benchmark to Brent crude pricing when setting gasoline prices, in order to control price increases.

The documents indicate that Brent crude futures are currently trading at around $100 per barrel, lower than the Asian benchmark of Dubai crude, so switching to Brent crude will limit the rise in gasoline prices, and wholesalers are advised to continue pricing based on Brent crude from now on. Although this government guidance does not have legal binding force, companies usually comply.

Brent crude oil and Dubai crude are two different crude oil benchmarks, with Brent crude currently priced at about $100 per barrel (approximately 700 yuan per barrel), while Dubai crude is priced higher.

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