The Japanese government is planning to extend subsidies aimed at curbing gasoline and other fuel prices as well as utility bills from the end of this year to the end of April, a source familiar with the matter said Tuesday.

The government will consider phasing out gasoline subsidies if economic conditions allow, and it plans to reduce support for electricity and gas bills from May while keeping an eye on global fuel price trends, according to the source.

The plans have been included in the draft of a new economic stimulus package that the Cabinet is expected to approve on Nov. 2, the source said.

The government introduced the current subsidy program for fuel prices in January 2022 and the program for electricity and gas bills a year later.

The two programs were originally scheduled to end in September, but as prices started to increase again, the government extended them until the end of the year.

File photo taken in August 2023 shows a person pumping gas into a vehicle at a gas station in Moriguchi, Osaka Prefecture. (Kyodo)

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