Fuel Prices in Israel Surge to Record Highs
Translated & summarized from Now 14 by baba
Gasoline prices in Israel will reach a record high of 8.27 shekels per liter starting Thursday at midnight, an increase of 52 agorot in one month. The rise is attributed to global fuel price hikes and a stronger dollar, despite a temporary excise tax reduction.
The story in 5 lines · by baba
- Gasoline prices in Israel will hit a record 8.27 shekels per liter starting Thursday.
- This marks a 52-agora increase in price within the past month.
- The price hike occurs despite a temporary 50-agora reduction in excise duty.
- Global fuel price increases and a stronger dollar are cited as reasons for the surge.
- The Ministry of Energy advises consumers to compare prices.
The price of gasoline in Israel is set to reach a new record high, with the cost of a liter of 95-octane self-service fuel climbing to 8.27 shekels starting Thursday at midnight. This represents a significant increase of 52 agorot (cents) within a single month.
The price hike occurs despite a temporary 50-agora reduction in excise duty on fuel, which was implemented as an emergency measure and remains in effect until the end of October. The Ministry of Energy and Infrastructure stated that the new price already accounts for this reduction, meaning the actual increase would have been even steeper without it.
Officials attribute the surge to a combination of factors, including a roughly 13% rise in international gasoline prices, driven by increasing crude oil costs and concerns over global energy market stability. Additionally, the strengthening of the US dollar by approximately 3% against the shekel has further contributed to the higher fuel costs for Israeli consumers.
This latest price increase brings the cost of gasoline to levels not seen in decades, surpassing even the prices recorded in 2012. For full-service stations, an additional 26 agorot per liter will be charged, making the price even higher for those who opt for this service.
The Ministry of Energy is advising consumers to compare prices across different fuel stations to find the most economical option.
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
