The price of 95 octane gasoline, at self-service pumps, will be cut by NIS 0.27 to NIS 6.38 a liter on August 2.
Gasoline prices in Israel are going down 4% on August 2. On Saturday night at midnight, the price of 95 octane gasoline will be cut by NIS 0.27 to NIS 6.38 a liter (self-service). Full service adds NIS 0.19 to the price.
The per-liter price in Eilat, which is exempt from VAT, will fall NIS 0.22 to NIS 5.41 a liter (self-service), and full service adds NIS 0.16 to the price.
The price cut follows a 10% drop in the price of oil this month. Since the tax element accounts for most of the price of gasoline in Israel, only one third of the decrease in oil prices is reflected in the price of gasoline.
This article has been changed. "Globes" originally misreported that gasoline prices would rise on August 1, when they will actually rise on August 2.
Published by Globes [online], Israel business news - www.globes-online.com - on July 30, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015
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