Gasoline prices in Israel to fall Saturday night

The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel will fall on Saturday at midnight September 1, by NIS 0.19 per liter to NIS 7.29 per liter, the Ministry of Energy and Infrastructure has announced. The NIS 0.22 charge per liter for service at pumps will remain unchanged.

The price of gasoline in Israel is affected by price fluctuations in the trade of oil barrels in the Mediterranean basin and the shekel-dollar exchange rate. When calculating the latest formula for determining the price of fuel at the end of August, the shekel-dollar exchange rate was at a level similar as at the end of July but oil prices have fallen.

This is the second consecutive month in which gasoline prices have fallen in Israel. However, in the first half of the year there was a sharp price increase in gasoline prices, with the price of government price controlled 95 octane gasoline at self-service pumps reaching NIS 7.90, just NIS 0.35 below the all-time record (NIS 8.25 per liter) in 2012.

Published by Globes, Israel business news - en.globes.co.il - on August 29, 2024.