[Electricity prices at record highs…Gasoline prices also projected to exceed 220 yen per liter!?]

Amidst the continuing tensions surrounding the Strait of Hormuz, the effects are finally beginning to hit Japanese households in earnest.

This video will provide a detailed explanation of "Hormuz inflation," which directly impacts our daily lives, including electricity, gas, gasoline, food, and logistics.

All 10 power companies have significantly increased regulated rates for household use in October, reaching record highs.

Tokyo Electric Power Company (TEPCO) has seen even higher rates before considering government subsidies, exceeding levels seen during the Ukraine crisis.

Furthermore, with the cessation of government subsidies for electricity and gas rates, rising fuel prices are more directly reflected in household budgets.

Gasoline is also a cause for concern.

It has been pointed out that if current government support is removed, the national average price of gasoline could rise to nearly 221 yen per liter.

For truck drivers, fuel prices are a direct cost.

However, the impact is not limited to the transportation industry.

Rising fuel prices increase logistics costs, which in turn impacts the prices of various goods, including food, daily necessities, electricity, and gas.

Furthermore, this time, the impact on food prices is compounded by soaring prices for fresh vegetables such as lettuce due to unfavorable weather, and rising prices of petrochemicals.

What is also concerning is the future situation surrounding the Strait of Hormuz.

While Iran claims it will strengthen its blockade, the US maintains that oil transport through the strait has recovered to pre-fighting levels.

In addition, it has been reported that the east-west pipeline in Saudi Arabia has been attacked again, halting oil transport once more.

If multiple risks converge on the Middle Eastern energy transport network, it will inevitably affect energy prices and logistics in Japan.

Moreover, the impact of crude oil prices is not immediately reflected in all prices.

Because the impact ripples through electricity, gas, logistics, and food with a time lag, the burden on household budgets may increase further during the winter months.

On the other hand, there are also financial problems with the government continuing subsidies indefinitely.

"Should we suppress price increases with subsidies?"
"Should we accept market prices?"
"How can we minimize the burden on citizens?"

The energy price issue is not simply about electricity or gasoline costs.

It's connected to logistics, manufacturing, agriculture, restaurants, local small and medium-sized enterprises, and even our daily lives.

This time, from the perspective of a truck driver, we will consider how the current changes in energy prices are affecting the Japanese economy and our lives.

"It's not just an electricity problem."

"It's not just a gasoline problem."

Why is the issue of the Strait of Hormuz directly related to life in Japan?

Please watch until the end.

*This video summarizes and explains the current situation based on reported information. The situation may change depending on future developments.

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