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Persian Gulf freight costs squeeze Japanese refiners

Original: ペルシャ湾

Japanese refiners are running up growing losses as high tanker freight rates linked to the Persian Gulf shipping route push up import costs. Nikkei reports the mounting red ink is forcing plants to cut operating rates, which could put upward pressure on gasoline and diesel prices for consumers.

Why now: Soaring Persian Gulf freight rates are directly hitting Japan's fuel supply costs, raising concerns about pump prices.

NikkeiJapanPersian Gulfoil refiners

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