Israel Cuts Fuel Prices by 32 Agorot Per Liter Amid Gulf Tensions Easing

The Israeli Energy and Infrastructure Ministry announced a fuel price reduction of 32 agorot per liter, effective midnight between Tuesday and Wednesday, reflecting decreased tensions in the Gulf region. The price for a liter of 95-octane self-service gasoline will be 7.48 shekels before station discounts, down from the current price and 59 agorot less than the April peak. However, this price remains above the pre-conflict level of 7.02 shekels per liter before the start of the "Roaring Tiger" operation against Iran. Full-service fuel will incur an additional 25 agorot per liter.

In Eilat, prices will drop to 6.34 shekels per liter, a 27 agorot decrease, with a 21 agorot surcharge for full service. Mina Avuachira, head of the Fuel and Gas Administration, explained that this is the most significant monthly price drop in three months, driven mainly by a 16% decline in international gasoline prices due to reduced risk premiums and easing fears of global oil supply disruptions. However, a 6% strengthening of the US dollar against the shekel has partially offset the price decrease for consumers.

The ministry urged consumers to compare prices across stations to find the best deals. This adjustment follows a period of heightened regional tensions impacting fuel costs, and while prices have fallen, they have not returned to pre-conflict levels.