Gasoline prices in Israel to fall for third straight month

The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel will fall on Monday at midnight October 1, by NIS 0.13 per liter to NIS 7.16 per liter, the Ministry of Energy and Infrastructure has announced. The NIS 0.22 charge per liter for service at pumps will remain unchanged.

The price of gasoline in Israel is affected by price fluctuations in the trade of oil barrels in the Mediterranean basin and the shekel-dollar exchange rate. This is the third consecutive month in which gasoline prices have fallen in Israel. However, in the first half of the year there was a sharp price increase in gasoline prices, with the price of government price controlled 95 octane gasoline at self-service pumps reaching NIS 7.90, just NIS 0.35 below the all-time record (NIS 8.25 per liter) in 2012.

From the start of 2024 to September 1, the maximum price of government price controlled 95 octane gasoline at self-service pumps would have risen by NIS 0.22 from NIS 6.94 at the end of 2023.

Published by Globes, Israel business news - en.globes.co.il - on September 29, 2024.