Fuel Prices Set to Hit Record High in Israel
Translated & summarized from Kipa by baba
Gasoline prices in Israel are set to reach a record high of 8.27 shekels per liter after an increase of 52 agorot, erasing a recent government subsidy. The surge is attributed to global oil price increases and currency fluctuations.
The story in 5 lines · by baba
- Gasoline prices in Israel will reach a record 8.27 shekels per liter.
- The price increase is 52 agorot, effective Tuesday night.
- The new price erases a recent 50 agorot government subsidy.
- Global oil prices and currency exchange rates are cited as causes.
- Previous record price was 8.25 shekels per liter.
Gasoline prices in Israel are poised to reach an all-time high, with a liter of 95-octane expected to increase by 52 agorot starting Tuesday night, bringing the price to 8.27 shekels. This new price surpasses the previous record of 8.25 shekels per liter.
The anticipated price hike comes despite a government subsidy of 50 agorot per liter approved last month, which cost the economy an estimated 300 million shekels. The current increase is expected to completely negate that discount and push prices to a historic peak.
Officials attribute the surge to a global rise in oil prices, influenced by tensions with Iran, shipping disruptions by the Houthis in the Bab al-Mandab strait, and the ongoing war between Russia and Ukraine. The Ministry of Energy stated that the price increase is also due to a roughly 13% jump in international gasoline prices and a nearly 3% strengthening of the U.S. dollar against the shekel.
Earlier estimates had predicted an increase of over 40 agorot, but the latest figures indicate a sharper rise. The new price marks a significant jump, setting a new record for fuel costs in the country.
The same event, reported separately by each outlet. Open a few to compare what different newsrooms emphasize — and what they leave out.
Centre 6Right 5Haredi 1Arab 4Other 3
