A pressure regulating valve to regulate a pressure of fuel gas includes a valve seat, a valve element movable into or out of contact with the valve seat to shut off or allow a flow of fuel gas, and a piston placed facing the valve element by interposing the valve seat and being located downstream of the valve element in a flowing direction of the fuel gas. The pressure regulating valve further includes a holder placed more upstream than the valve element in the flowing direction of fuel gas. The holder includes a bottom-closed cylindrical part opening toward the upstream side, and a through hole formed through the bottom-closed cylindrical part from its inner peripheral surface to outer peripheral surface.