Gasoline prices in Israel to fall Mon night

Fuel prices Photo: Shutterstock

The maximum price of 95 octane gasoline at self-service pumps in Israel will fall NIS 0.18 to NIS 5.83 per liter on January 1.

The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel will fall by NIS 0.18 to NIS 5.83 per liter on Monday night at midnight, January 1, the Ministry of National Infrastructures, Energy and Water Resources reports. The charge for receiving full-service at pumps from gas station attendants will remain NIS 0.21. The fall in gasoline prices follows the fall in oil prices on world markets, partly offset by the strengthening of the dollar against the shekel.

At the beginning of December, gasoline prices fell NIS 0.47. The price of fuel in Israel is set according to the price in the last four days of the month at Lavera in France. The price rise is due to the rise of oil prices on world markets.

The maximum price of government price controlled 95 octane gasoline at self-service pumps in Eilat where there is no VAT will fall by NIS 0.14 to NIS 4.99 on Monday night. The charge for receiving full-service at pumps from gas station attendants will remain NIS 0.18.

Even after the fall, taxes - VAT and excise - will make up more than 60% of the price of gasoline at the pumps in Israel.

Published by Globes, Israel business news - en.globes.co.il - on December 30, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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Fuel prices Photo: Shutterstock
Fuel prices Photo: Shutterstock
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