Gasoline prices in Israel to rise Wed night

Israeli gas station credit: Cadya Levy

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On June 1 the maximum retail price of a liter of government price-controlled unleaded 95 octane gasoline at a self-service pump will rise by NIS 0.04 to NIS 6.85.

At midnight between Wednesday night and Thursday (June 1) the maximum retail price of a liter of government price-controlled unleaded 95 octane gasoline at a self-service pump will rise by NIS 0.04 to NIS 6.85 (including VAT), the Ministry of National Infrastructures, Energy and Water Resources has announced. The slight rise comes after three consecutive months May in which the price remained unchanged. There will remain a fee of NIS 0.21 per liter for full service at pumps.

The price of 95 octane gasoline had been set to rise sharply to NIS 7.20-7.30 per liter until Minister of Finance Bezalel Smotrich ordered an extension and slight rise in the cut in excise duty from NIS 0.45 per liter to NIS 0.49.

Oil prices which jumped substantially at the start of the Russia-Ukraine war in February 2022 have fallen by 25% over the past year.

Published by Globes, Israel business news - en.globes.co.il - on May 30, 2023.