Fuel Prices in Israel Hit Record High of 8.27 Shekels Per Liter
Translated & summarized from 0404 by baba
Gasoline prices in Israel will reach a record high of 8.27 shekels per liter starting Thursday due to rising international fuel costs, oil prices, supply concerns, and a stronger dollar. The new price includes a temporary excise tax reduction.
The story in 4 lines · by baba
- Gasoline prices in Israel reach record high of 8.27 shekels per liter.
- Price increase driven by global fuel costs and dollar strength.
- Full-service fueling will cost an additional 26 agorot.
- Current excise tax reduction remains in effect until end of October.
The price of gasoline in Israel is set to reach an all-time nominal high starting Thursday at midnight, with the Ministry of Energy and Infrastructure announcing the maximum price for a liter of 95-octane self-service gasoline will be 8.27 shekels. This represents an increase of 52 agorot from the previous price, surpassing the prior record of 8.25 shekels per liter.
Drivers opting for full-service fueling will pay an additional 26 agorot per liter, bringing the maximum price to 8.53 shekels. The Fuel and Gas Administration attributed the surge to a roughly 13% rise in international gasoline prices, coupled with increasing oil costs and concerns over global supply disruptions.
An approximate 3% strengthening of the dollar against the shekel also contributed to the price hike. The new price already incorporates a 50-agorot per liter reduction in excise duty, which took effect in September and is scheduled to remain in place until the end of October.
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