Fuel Prices to Drop Then Soar in Israel Amid Tax Uncertainty
Translated & summarized from Kipa by baba
Gasoline prices in Israel will drop by 42 agorot per liter starting Sunday, reaching 7.35 shekels. However, this price cut is temporary and may expire on November 5, potentially causing prices to surge by a full shekel to 8.35 shekels within four days. The Ministry of Energy warns drivers to compare prices as the reduction depends on a tax order update.
The story in 5 lines · by baba
- Israeli fuel prices will drop 42 agorot per liter starting Sunday, to 7.35 shekels.
- The price reduction is temporary and could end November 5.
- Fuel prices may jump a full shekel to 8.35 shekels by November 5.
- The Ministry of Energy issued an unusual warning about the price increase.
- Drivers are advised to compare prices at different gas stations.
The price of gasoline in Israel is set to decrease by 42 agorot per liter starting Sunday, bringing the maximum price for 95-octane self-service fuel to 7.35 shekels, down from the current 7.77 shekels. This reduction, however, is expected to be short-lived.
The Ministry of Energy and Infrastructure issued an unusual warning: the current fuel price reduction is tied to a temporary order on fuel excise tax. If this order is not updated, it will expire on the night of November 4-5. Consequently, the maximum price could jump by a full shekel to 8.35 shekels per liter by Thursday, November 5.
The surcharge for full-service refueling will remain unchanged at 26 agorot per liter, making the maximum full-service price 7.61 shekels. The ministry advises drivers to compare prices across different gas stations to find the most economical option.
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