Israel's Fuel Prices Drop Sharply in July Amid Global Market Changes

The Israeli Ministry of Energy and Infrastructure announced a significant reduction in fuel prices for July 2026, with the maximum price for a liter of 95-octane gasoline at self-service stations falling by 32 agorot to 7.48 shekels, including VAT. This new price will take effect at midnight between Tuesday and Wednesday. Drivers opting for full-service fueling will pay an additional 25 agorot per liter, unchanged from previous months. In Eilat, the maximum price for self-service 95-octane gasoline will be 6.34 shekels per liter, a decrease of 27 agorot, with a full-service surcharge of 21 agorot excluding VAT.

Batsheva Abuhatzira, head of the Fuel and Gas Administration at the Ministry, described this as the most significant monthly price drop in the past three months. Since April, the price of gasoline has decreased by a total of 59 agorot per liter. The decline is mainly attributed to weakening international gasoline prices due to reduced risk premiums and easing concerns over potential disruptions in global oil supply. However, the strengthening of the US dollar against the shekel has partially offset the price reduction for Israeli consumers, acting contrary to the global fuel price decline.