BMW ActiveHybrid 3 to carry MSRP of $50,195; intelligent energy management with proactive route analysis
A123 Systems meets conditions for release of $30M of restricted cash; new direct offering of stock and warrants for $9M net

Nikkei: popularity of fuel-efficient vehicles lowering demand for gasoline in Japan

The Nikkei reports that the nationwide average price in Japan for regular gasoline was ¥139.8 per liter ($6.65 per gallon US) as of Monday, dropping for the 13th straight week to a 16-month low, according to the Agency for Natural Resources and Energy.

Prices at the pump are falling in Japan not only due to lower crude oil prices, but also because the widespread popularity of fuel-efficient vehicles has lowered demand for gasoline.

...A shakeout in the gas station industry is expected as next-generation green cars, including electric and fuel-cell vehicles, become more popular. Next-generation cars will account for 56% of all automobiles in Japan in fiscal 2030, the agency predicted in a report released in mid-June. Gasoline consumption that year is expected to be about 60% lower than the fiscal 2010 level.

The agency forecast that demand for petroleum products in Japan will total 130 million kiloliters in fiscal 2030; the Petroleum Association of Japan has stated that 180 million kiloliters of demand is necessary to provide stable supplies.

The number of gasoline refueling stations in Japan as of 31 March 2011 had dropped to about 38,000, down from more than 60,000 in 1995, according to the Ministry of Economy, Trade and Industry.

Comments

Arne
the Petroleum Association of Japan has stated that 180 million kiloliters of demand is necessary to provide stable supplies

Can anybody explain that? Are they blackmailing the Japanese people? "You'd better stay addicted to our stuff, or else..."

Gerald Shields

Looks like fuel efficient and/or hybrids and electric CAN DECREASE DEMAND FOR GASOLINE.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Your Information

(Name is required. Email address will not be displayed with the comment.)