Fuel Price Hike: Gasoline to Exceed 8 Shekels Per Liter
Starting midnight Saturday, fuel prices will rise by 61 agorot per liter. The price of 95-octane gasoline at self-service stations will reach 8.09 shekels.
Fuel will become 61 agorot per liter more expensive at midnight between Saturday and Sunday, the Fuel and Gas Administration at the Ministry of Energy announced today (Thursday). The price per liter of 95-octane unleaded gasoline for the consumer at a self-service station (including VAT) will stand at 8.09 shekels. In July, the price of a liter of gasoline was 7.48 shekels, following a decrease of 32 agorot.
Bat-Sheva Abuchatzira, director of the Fuel and Gas Administration, stated: "The price increase stems from a sharp rise of about 22% in gasoline prices in international markets, against the backdrop of rising global oil prices and continued concerns regarding supply disruptions and the stability of the global energy market. Added to this was a strengthening of about 1.9% in the dollar exchange rate, which also affected the price of fuel in Israel."
According to her, the price of gasoline continues to reflect volatility in global energy markets. After an increase of 1.03 shekels per liter in April and another increase of 2 agorot in May, a cumulative decrease of 59 agorot per liter was recorded in June and July. Now, following developments in the global energy market, the price is rising again.
