The maximum price of a liter of 95-octane gasoline at self-service pumps will rise by NIS 0.06 on April 1 to NIS 6.52 (including VAT).
Following the increase in oil prices on world markets due to the conflict in Yemen, fuel prices will rise on Tuesday at midnight, April 1. The maximum price of a liter of 95-octane gasoline at self-service pumps will rise by 0.93% or NIS 0.06 to NIS 6.52 (including VAT). An extra NIS 0.19 (including VAT) will continue to be charged at full-service pumps.
Prices in Israel had reached a five-year low in February but rose NIS 0.38 (6.25%) at the start of March, after falling NIS 1.24 in the preceding four months.
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 March 29, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015
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