Fuel Prices in Israel to Rise in September
The Ministry of Energy and Infrastructure announced on Sunday that the price of a liter of 95-octane self-service gasoline will increase to 8.25 shekels starting in September. This represents a rise of 16 agorot from the previous month's price. The additional charge for full-service fueling will go up by one agora to 25 agorot per liter.
Bat Sheva Abuhazira, director of the Fuel and Gas Administration at the ministry, explained that several factors contributed to the price hike. A significant factor was a roughly 6% increase in international gasoline prices, which was partially offset by a 3% decrease in the dollar's exchange rate. These international market fluctuations accounted for about 10 agorot of the increase.
Additionally, the Tax Authority adjusted the excise tax component based on the consumer price index, adding approximately 5 agorot per liter. A semi-annual adjustment to the marketing margin also contributed an additional agora. Combined, these changes resulted in the total 16-agora increase for September.
Last month, between July and August, fuel prices saw a substantial jump of 61 agorot per liter, bringing the maximum price for a liter of 95-octane self-service gasoline to 8.09 shekels.
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