Japanese refinery runs at lowest since June 2025 on Middle East supply crisis
Japanese oil refineries cut utilization rates to 67.7% of designed capacity in the week to April 4 from 72.5% a week earlier, Petroleum Association of Japan data showed on Wednesday.
The refinery utilization rates are down from more than 80% before the start of the U.S.-Israeli war on Iran, which has disrupted oil supply. Last week's rate is the lowest since it stood at 66.7% in June 2025, PAJ data shows.
Japan began to partially release oil stockpiles from March 16.
In total, Japan is making available about 50 days' worth of oil consumption and is asking the International Energy Agency to consider coordinated release of a second batch of stockpiles.
Owing to changes in Japan's petroleum product supply structure, PAJ suspended publication of a breakdown for the weekly stocks of gasoline, jet fuel, kerosene and diesel.
Gasoline prices fell to 167.4 yen ($1.06) a liter by April 6, down from 170.2 yen the previous week and off the mid-March record high of 190.8 yen, industry ministry data showed, as Japan started to roll out subsidies to cushion rising prices.
LNG stockpiles held by major Japanese utilities were down to 2.19 million metric tons on March 29, down from 2.38 million tons a week earlier but above levels a year earlier and the five-year average for the period, according to Japan's industry ministry.
($1 = 158.3300 yen)
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