Israel Cuts July 2026 Gasoline Prices by 32 Agorot Amid Global Market Changes

The Israeli Ministry of Energy and Infrastructure announced a significant reduction in gasoline prices for July 2026, effective from midnight between Tuesday and Wednesday. The maximum price for a liter of 95-octane gasoline at self-service stations will drop by 32 agorot to 7.48 shekels, including VAT. Full-service customers will continue to pay an additional 25 agorot per liter, unchanged from the previous update. In Eilat, prices will decrease by 27 agorot to a maximum of 6.34 shekels per liter for self-service, with a 21 agorot surcharge for full service excluding VAT.

Bezev Abuhatzira, head of the Fuel and Gas Administration at the Ministry, explained that this is the largest monthly price drop in the last three months, with a total reduction of 59 agorot per liter since April. The main cause is the weakening of international gasoline prices due to a decline in risk premiums and easing concerns over potential disruptions in global oil supply. However, the strengthening of the US dollar by approximately 6% against the shekel has partially offset the price decrease for Israeli consumers. International gasoline prices are expected to fall by about 16%, contributing to the overall price adjustment.