The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel will rise on Saturday night at midnight May 1, 2022 by NIS 0.12 to NIS 7.06 per liter, the Ministry of National Infrastructures, Energy and Water Resources has announced. The charge for receiving full-service at pumps from gas station attendants will remain NIS 0.21.
Oil prices rose sharply in February and March following Russia's invasion of Ukraine but remained stable in April. The Ministry of National Infrastructures, Energy and Water Resources has said that the reasons for the latest rise are the depreciation of the shekel against the dollar over the past month and the impact of inflation, with excise tax on the gasoline raised in line with the Consumer Price Index (CPI).
The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel was NIS 7.44 at the start of April, the highest price since 2014, but fell to NIS 6.94 after Minister of Finance Avigdor Liberman cut the excise tax on fuel by NOS 0.50 per liter, in order to moderate the rise in the cost of living.
The maximum price of government price controlled 95 octane gasoline at self-service pumps in Eilat where there is no VAT will rise by NIS 0.10 to NIS 6.03 on Saturday night. The charge for receiving full-service at pumps from gas station attendants in Eilat will remain NIS 0.18.
Published by Globes, Israel business news - en.globes.co.il - on April 28, 2022.
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