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TOKYO, March 11:\u00a0 Japan plans to release 15 days\u2019 worth of private-sector \u200boil reserves and one month\u2019s worth of state \u200coil reserves, Prime Minister Sanae Takaichi said on Wednesday, ahead of the International Energy Agency-led action.<\/strong><\/p>\n To avoid disruption to gasoline and other petroleum \u200bproduct supplies, Japan will tap its reserves in \u200bcoordination with the G7 and the IEA but \u2060will begin releasing them from March 16, she said.<\/p>\n \u201cRather \u200bthan wait for formal IEA approval of a coordinated international \u200breserve release, Japan will act first to ease global energy market supply and demand, releasing reserves as early as the 16th \u200bof this month,\u201d Takaichi said in a broadcast statement.<\/p>\n Japan \u200bis dependent on the Middle East for around 95% of its oil \u200csupplies.<\/p>\n On \u2060Wednesday, government and industry data showed that retail gasoline prices in Japan rose to their highest since December and refineries cut their runs last week, the first week \u200bof the U.S.-Israeli \u200bwar with \u2060Iran.<\/p>\n \u201cWe will release 15 days of private sector reserves plus one month of national \u200breserves, delivering them to domestic refiners as quickly \u200bas \u2060possible. We will also promptly utilise joint reserves held with oil-producing nations,\u201d Takaichi said.<\/p>\n Japan holds emergency oil reserves equivalent \u2060to \u200b254 days of consumption, comprising national \u200bstockpiles (146 days), private-sector reserves (101 days) and joint stockpiles with producing countries (7 days).<\/p>\n<\/div>\nIran War 2026- Live Updates<\/strong><\/em><\/a><\/span><\/h3>\n