Fuel Prices Drop in Israel Following Tax Adjustment
Drivers in Israel will see a reduction in fuel prices starting midnight between Sunday and Monday, following an adjustment to the excise tax on gasoline. The maximum price for a liter of 95-octane unleaded gasoline at self-service stations will be capped at NIS 7.75, a decrease of NIS 0.50 from the previous price.
The surcharge for full-service stations will remain unchanged at NIS 0.26 per liter. In Eilat, where Value Added Tax (VAT) is not applied, the maximum price for a liter of 95-octane unleaded gasoline at self-service stations will be NIS 6.57, a reduction of NIS 0.42 from the prior rate. The full-service surcharge in Eilat will remain at NIS 0.22 per liter.
The Ministry of Energy announced the price update, advising consumers to compare prices across different stations to find the most economical option. This price decrease follows a recent increase of NIS 0.16 at the beginning of the previous week, which had raised the price to NIS 8.25 per liter.
The prior price hike was attributed to a roughly 6% increase in international gasoline prices, a periodic excise tax adjustment based on an index, and increased marketing margins and full-service surcharges due to a rise in the minimum wage.
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