Israel Fuel Prices Surge to Record Highs in October
Translated & summarized from Alarab by baba
Israel's Ministry of Energy announced a record increase in gasoline prices, with a liter of 95-octane fuel set to cost 8.27 shekels starting October 1, 2026. The surge is attributed to global energy market fluctuations and a weaker shekel.
The story in 4 lines · by baba
- Gasoline prices in Israel will hit a record 8.27 shekels per liter on October 1.
- The price increase is driven by global energy market trends.
- A weaker shekel against the dollar also contributed to higher fuel costs.
- This follows a recent, politically questioned, fuel price reduction.
The Ministry of Energy and Infrastructure announced that regulated fuel prices will increase starting midnight Wednesday-Thursday, October 1, 2026. The maximum price for a liter of 95-octane gasoline at self-service stations will reach 8.27 shekels, including VAT. This represents an unprecedented surge of 52 agorot compared to the previous price.
The price for full service will include an additional 26 agorot per liter, unchanged from the previous rate. The ministry attributed the price hike to global energy market developments, including a roughly 13% increase in international gasoline prices driven by rising oil costs and ongoing concerns about oil supply disruptions and global energy market stability. A nearly 3% rise in the dollar's exchange rate against the shekel also contributed to the increased fuel costs in Israel.
This price increase follows a decision in early September by Finance Minister Bezalel Smotrich to reduce fuel prices by 50 agorot per liter. That decision, which received approval from the Attorney General, faced opposition from within the professional ranks of the Finance Ministry and concerns that it was politically motivated due to upcoming elections.
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