The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel in February will rise by NIS 0.33 per liter on Tuesday at midnight to NIS 7.17 per liter.
The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel in February will rise by NIS 0.33 per liter on Tuesday at midnight to NIS 7.17 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. This is the highest price since July 2022.
The jump in price is taking place even though earlier this month Minister of Finance Bezalel Smotrich signed orders to reduce the excise tax on gasoline by NIS 0.10 per liter. This discount will remain in effect until the end of 2023. The step taken by the incoming government to deal with the increase in the price of fuel is significantly more modest than that of its predecessor. From last April until the end of 2022, previous Minister of Finance Avigdor Lieberman applied various reductions in the excise on fuel tax, reaching as high as NIS 0.85 per liter.
The main reason for the rise in gasoline prices was a rise in oil prices on world markets in January.
Published by Globes, Israel business news - en.globes.co.il - on January 29, 2023.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
Israeli gas station credit: Eyal Izhar