Gasoline Prices in Israel Poised for Significant Increase
Gasoline prices in Israel are expected to rise by 25 to 40 agorot per liter starting early Thursday, potentially pushing the price of 95-octane self-service gasoline close to 8.15 shekels. The current price stands at 7.75 shekels per liter. The final price will be determined by international fuel market rates and the dollar-to-shekel exchange rate before the update takes effect at midnight Wednesday.
This anticipated price hike follows a previous reduction in September, when prices reached 8.25 shekels per liter before a fuel tax cut brought them down. The increase could add approximately 15 to 20 shekels to the cost of filling a car's tank, depending on its capacity.
The rise in global energy markets, influenced by tensions around the Strait of Hormuz, is contributing to upward pressure on oil and fuel prices worldwide. This could subsequently impact transportation and production costs, as well as the prices of various goods and services.
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