The maximum price of a liter of 95-octane gasoline at self-service pumps will fall by 3% or NIS 0.19 on Saturday at midnight, February 1, to NIS 6.08 (including VAT).
As oil prices on the world market continue to fall, prices in Israel have reached a five-year low. The price of a liter of 95-octane gasoline fell by NIS 0.63 per liter, 9%, at the beginning of January, by NIS 0.15 at the beginning of December, and by NIS 0.27 at the beginning of November.
The maximum price for a liter of gasoline at 95-octane self-service pumps in Eilat where there is no VAT will fall NIS 0.17 on Saturday night to NIS 5.15.
The maximum price of a liter of 95-octane gasoline at self-service pumps is currently NIS 6.27. Drivers filling their tanks at full service pumps must pay an extra NIS 0.19 per liter. Just two years ago Israeli drivers were paying NIS 8 per liter of 95-octane gasoline.
The price of fuel in Israel is set according to the price in the last four days of the month at Lavera in France. But the international gasoline price represents only 35% of the final pump price in Israel. The second component is excise, comprising 41% of the eventual price. The fuel stations' selling margin accounts for about 9% more, and VAT of 18% on these three components makes up the rest.
Published by Globes [online], Israel business news - www.globes-online.com - on January 29, 2015
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