Fuel Prices in Israel Set to Surge Past 8 Shekels Per Liter
The price of gasoline in Israel is expected to rise significantly overnight between Wednesday and Thursday, potentially exceeding 8 shekels per liter for the first time in a while. Barring any last-minute changes, the cost of 95-octane unleaded gasoline at self-service stations is projected to increase by approximately 25 to 40 agorot per liter. This hike would push the price from its current 7.75 shekels per liter mark to over 8 shekels.
The primary driver behind this anticipated price jump is the heightened geopolitical tension in the Strait of Hormuz, stemming from the conflict between the United States and Iran, which is destabilizing global energy markets. This development is expected to impose an additional financial burden on Israeli drivers, costing the average family an estimated 15 to 20 shekels more per full tank of fuel.
Beyond the direct impact on motorists, economic analysts warn that the increase in energy prices will have a broader ripple effect on the consumer price index, contributing to the overall cost of living in Israel.
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