The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel is expected fall on Sunday at midnight September 7, 2026, by NIS 0.50 per liter to NIS 7.75 per liter. Minister of Finance Bezalel Smotrich is expected to sign an order reducing excise by NIS 0.50 per liter.
Smotrich’s move follows a rise of NIS 0.16 per liter on September 1 to NIS 8.25 per liter.
The order is subject to a request for public comments, which states, "In order to reduce the price of gasoline for the consumer, following the recent increase in the price of gasoline, it is proposed to determine by temporary order that from September 7, 2026 until October 31... a reduction in excise duty will apply to gasoline and gasoline mixed with methanol, so that the prices of the aforementioned fuels at gas stations will decrease by NIS 0.50 per liter."
Despite the proximity to the elections and the concern that this is "election economics," the Ministry of Finance legal advisor recommended approving the order, and the Attorney General accepted the opinion.
The gasoline price increase on September 1 to NIS 8.25 per liter equals the all-time high, which the price reached in September 2012. The increase was explained, among other things, by the increase in the price of gasoline on the international market, which was partially offset by the decline in the shekel-dollar exchange rate.
Published by Globes, Israel business news - en.globes.co.il - on September 3, 2026.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.