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Japan's average gasoline price hits 3.5-yr high over Iran oil halt

This June 2017 photo shows a gas station in Saitama city. (Kyodo)

TOKYO (Kyodo) -- The retail price of regular gasoline in Japan has risen to a 3-1/2 year high due to U.S. pressure to stop countries from importing crude oil from Iran.

The Agency of Natural Resources and Energy said Thursday the average price stood at 152.30 yen ($1.35) per liter, up 0.30 yen since July 9 and the highest since 152.40 yen in December 2014.

Oil prices have been rising since the United States warned last month that it would impose sanctions on countries that import crude oil from Iran after Nov. 4.

The Oil Information Center, which conducted the survey, forecasts a slight decline over the next week.

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