Gasoline prices to fall in Israel next week

gasoline pumps

The maximum price of 95 octane gasoline at self-service pumps in January will fall by NIS 0.15, market sources estimate.

The maximum price of 95 octane gasoline at self-service pumps in Israel will fall by NIS 0.15 per liter, from NIS 5.99 to NIS 5.84 on January 1, market sources estimate. The price fall includes a NIS 0.03 fall in excise which will be updated at the start of 2016.

Most of the fall in the price of gasoline will be the result of the sharp fall of oil prices on world markets. Since the start of December oil prices have fallen by 19% and a barrel of Brent crude is currently being sold for $36.8 while West Texas Intermediate (WTI) is being sold for $34.7 per barrel.

Gasoline prices in Israel rose very slightly on December 1, ending four-straight previous months in which prices fell to the lowest since 2009.

The price of fuel in Israel is set according to the price in the last four days of the month at Lavera in France.

Published by Globes [online], Israel business news - www.globes-online.com - on December 20, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

gasoline pumps
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