Japanese refiners raise runs as stockpile release begins
Japanese refineries slightly raised utilization rates to 73.3% in the week to March 21 from 69.1% a week earlier, still down from over 80% before the start of the Middle East war, which has disrupted oil supply from the region, data from the Petroleum Association of Japan showed on Wednesday.
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Japan started to to partially release oil stockpiles from March 16.
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PAJ did not provide breakdown for the weekly stocks of gasoline, jet fuel, kerosene and diesel.
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Price of gasoline dropped to 177.7 yen ($1.12) per liter as of March 23, industry ministry's data showed separately, as Japan started to roll out subsidies to compensate for rising prices.
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The average gasoline price in Japan rose to 190.8 yen per liter by March 16, up 18% from a week earlier and its highest ever.
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