Gasoline Prices to Jump 52 Agorot After Fuel Tax Reduction Ends
Translated & summarized from Davar by baba
Gasoline prices in Israel will increase by 52 agorot per liter starting Thursday due to the end of a temporary tax reduction and rising global oil prices. The price hike also reflects a stronger dollar.
The story in 5 lines · by baba
- Gasoline prices to rise 52 agorot per liter starting Thursday.
- Temporary 50 agorot excise tax reduction ends this week.
- Global oil price increases and supply concerns are driving factors.
- A stronger dollar also contributes to the higher fuel cost.
- Full service surcharge remains unchanged at 26 agorot.
Consumer gasoline prices at Israeli fuel stations are set to increase by 52 agorot per liter starting at midnight between Wednesday and Thursday, the Fuel and Gas Administration at the Ministry of Energy and Infrastructure announced. The maximum price for a liter of 95-octane unleaded gasoline at self-service stations will rise to NIS 8.27, including VAT. The surcharge for full service will remain unchanged at 26 agorot per liter.
The price hike is attributed to global energy market developments. The increase reflects the reinstatement of a 50 agorot per liter excise tax, which was temporarily reduced by Finance Minister Bezalel Smotrich's emergency order from September 7th until the end of October. The administration stated that the price rise is driven by a roughly 13% increase in international gasoline prices, fueled by rising global oil costs and ongoing concerns about oil supply disruptions and global energy market stability. Additionally, a nearly 3% strengthening of the dollar against the shekel has also contributed to the higher fuel cost in Israel.
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