Fuel Prices in Israel Hit Record High Amid Global Market Turmoil
Translated & summarized from Behadrei Haredim by baba
Israel's gasoline prices are reaching a record high of NIS 8.27 per liter due to global oil price increases and a weaker shekel. The price also reflects the reinstatement of a temporary excise tax reduction.
The story in 5 lines · by baba
- Gasoline prices in Israel reach record high of NIS 8.27 per liter.
- Global oil price increases are the primary driver of the surge.
- A weaker shekel against the dollar also contributes to higher costs.
- A temporary excise tax reduction has been reversed.
- Full-service surcharges remain unchanged.
The price of gasoline in Israel is set to reach an all-time high, with the Ministry of Energy and Infrastructure announcing a significant increase effective midnight between Wednesday and Thursday. The maximum price for a liter of 95-octane unleaded gasoline at self-service stations will rise by 52 agorot to NIS 8.27, including VAT. The surcharge for full-service stations will remain unchanged at 26 agorot per liter.
This surge is attributed to global energy market developments, including a roughly 13% increase in international gasoline prices. This rise is driven by escalating global oil prices and ongoing concerns about potential disruptions to oil supply and the stability of the world energy market. The weakening of the Israeli shekel against the dollar, with a roughly 3% depreciation, has also contributed to the higher fuel costs.
The new price incorporates the restoration of a 50-agorot per liter fuel excise tax, which had been temporarily reduced by a Knesset order from September 7, 2026, until the end of October 2026. The Fuel and Gas Administration noted that despite the excise tax increase, the final price reflects the global market trends.
