Fuel price jump: gasoline to increase by 16 agorot to 8.25 shekels per liter

Starting September 1st, the maximum price per liter of 95-octane unleaded gasoline for consumers at self-service stations (including VAT) will rise by 16 agorot, reaching 8.25 shekels per liter. This was announced by the Fuel and Gas Administration at the Ministry of Energy and Infrastructure.

This is the highest price recorded in 14 years; in September 2012, the price also stood at 8.25 shekels per liter. The surcharge for full service will be 26 agorot per liter (including VAT), an increase of 1 agora from the previous update.

The maximum price per liter of 95-octane unleaded gasoline at self-service stations in Eilat (excluding VAT) will not exceed 6.99 shekels per liter, an increase of 14 agorot from the previous update. The surcharge for full service in Eilat will be 22 agorot (excluding VAT), also an increase of 1 agora.

According to the director of the Fuel and Gas Administration, Bat-Sheva Abuchatzira, several factors influenced the price increase this month:

«One of the primary factors is the rise in gasoline prices on the international market, which increased by approximately 6%. This was partially offset by a decrease of approximately 3% in the dollar exchange rate. Combined, these factors led to an increase of approximately 10 agorot per liter.»

In addition, the Tax Authority updated the excise component in accordance with the index, causing an increase of approximately 5 agorot per liter. Furthermore, a semi-annual update was carried out, and the marketing margin increased by one agora. The surcharge for full service rose by one agora following the increase in the minimum wage, and will now stand at 26 agorot per liter, up from 25 agorot.