Sources inform ''Globes'' that Paz Oil Company Ltd. (TASE:PZOL) has raised its price for diesel to NIS 6.75 per liter, after earlier promising not to do so.
Ten days ago, Delek Petroleum Ltd., Sonol Israel Ltd,, and Dor Alon Energy in Israel (1988) Ltd. (TASE:DRAL) raised their prices for diesel to NIS 6.77 per liter, and Paz has now toed the line.
The government has criticized the price hike, because wholesale fuel prices at refineries has not been raised, and global oil prices are stable.
The companies said that the price hikes were made following changes in global oil prices, and because they had to order larger quantities of diesel at higher prices from refineries. Paz said, “This was a business calculation by the company. Our diesel is still cheaper than the price at the other large companies.”
Published by Globes [online], Israel business news - www.globes.co.il - on April 26, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007