Press Conference by Minister Muto (Excerpt)

*Note: This is a provisional translation for reference purposes only.

11:05 a.m. – 11:13 a.m.
Tuesday, June 24, 2025
Press Conference Room, 10F, METI Main Building

Question-and-Answer Session

Potential Blockade of the Strait of Hormuz and its Impact on Energy Supply

Q: The United States bombed Iran's nuclear facilities on June 22. In response, there are local reports that the Iran’s parliament has approved the blockade of the Strait of Hormuz. If the Strait of Hormuz were to be blocked, what would be the impact on Japan's domestic energy supply and what actions would METI take?

A: Japan depends on imports of energy resources such as oil and natural gas from overseas. In particular, approximately 90% of our crude oil imports travel through the Strait of Hormuz. I will refrain from making comments based on speculation regarding the possibility of a blockade of the Strait of Hormuz, but in general, if there is a possibility that a stable supply could be disrupted, we will respond in a timely and appropriate manner in close coordination and cooperation with the International Energy Agency (IEA) and its member countries, including consideration of the use of petroleum reserves, if necessary.

In addition, in order to prevent the price of gasoline from rising in line with the rise in crude oil prices and negatively impacting the lives of the people, starting on Thursday, 26th of this week, in addition to the fixed-amount fuel price reduction measures, we will implement measures to mitigate potential drastic changes in the gasoline price, aiming to prevent the retail price of gasoline from rising from the level before and after the Ukraine crisis, that is, from the national average price of about 175 yen per liter. We will also continue to monitor the situation closely with a high sense of urgency and take all possible measures to ensure a stable energy supply for Japan.