The maximum price of 95 octane gasoline at self-service pumps in Israel will fall by NIS 0.11 per liter, from NIS 6.07 to NIS 5.96 at midnight on Saturday, November 1.
After the latest fall in prices, gasoline prices in Israel would have fallen by 15% over the past year. This is the first time in six and a half years that the price of 95 octane gasoline at self-service pumps in Israel has fallen below NIS 6 per liter.
The maximum price of 95 octane gasoline at self-service pumps in Eilat where no VAT is charged will be NIS 5.09 from Saturday midnight, a fall of NIS 0.10.
After the latest price fall, 66% of the gasoline price will comprise tax NIS 3.056 excise per liter and NIS 0.86 VAT. In other words, NIS 4 out of NIS 5.96.
The price of fuel in Israel is set according to the price in the last four days of the month at Lavera in France.
Published by Globes [online], Israel business news - www.globes-online.com - on October 29, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015