The ongoing Russian invasion of Ukraine has resulted in gasoline prices rising sharply again, as oil prices have risen on world markets over the past month. The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel will rise on Thursday night at midnight April 1, 2022 by NIS 0.39 to NIS 7.44 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 of gasoline in Israel since July 2014 when it cost NIS 7.62 per liter. Over the past three months gasoline prices in Israel have risen NIS 1.07.
Ministry of National Infrastructures, Energy and Water Resources fuel administration head Chen Bar Yoseph said, "The past month has seen very high rises and volatility. Among the reasons are of course the war in Ukraine and the sanctions on oil from Russia, which is a very major exporter of oil and oil products, as well as Houthi terror attacks on Saudi oil fields."
He added that in the past few days oil prices fell somewhat because of the Russia-Ukraine peace talks in Turkey.
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 0.33 to NIS 6.36 on Thursday 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 March 30, 2022.
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