Fuel Prices

The combination of high energy prices and market uncertainty could soon reach the local consumer's pocket, affecting the prices of imported goods and changing the overall situation.

In Egypt, a committee was established to set prices every three months. In Jordan, authorities are preventing global oil price hikes from impacting the local market. In Syria, a government attempt to lower prices resulted in massive queues and fuel stations running out of supply.

Finance Minister Bezalel Smotrich has ordered a reduction in fuel excise tax to prevent a price hike. Experts criticize the move as election-year populism that will cost the state hundreds of millions of shekels.

Against the backdrop of fears regarding a sharp rise in fuel prices due to the blockade on Iran, Finance Minister Bezalel Smotrich will sign a special order to reduce the excise tax. The goal is to lower costs for consumers as early as this week.

The move to reduce the excise tax could cost the state treasury hundreds of millions of shekels. The Ministry of Finance is awaiting the Attorney General's decision on the feasibility of the move or whether it will be disqualified on the grounds of 'election economics'.

Starting September 1st, the maximum price for a liter of 95-octane gasoline at self-service stations will reach 8.25 shekels. This marks a 14-year high for fuel prices in Israel.

The price of a liter of 95-octane gasoline at self-service pumps is jumping by 16 agorot and will stand at 8.25 shekels in September — identical to the record set 14 years ago. The reasons: a jump in fuel prices in the international market and an update to the excise tax.

After a sharp jump in fuel prices this month, the cost is expected to drop in September by approximately 25 agorot to 7.84 shekels per liter. The final price will be determined on Sunday morning based on oil prices and the dollar exchange rate.

The water level of the Rhine River has dropped to a historic low, forcing cargo ships to reduce loads or suspend operations. As 80% of Germany's inland water traffic relies on the river, the disruption is increasing transport costs and fuel prices in Germany and Switzerland, with concerns growing that the shipping route could be severed entirely.

A liter of gasoline will jump at midnight by 61 agorot, and by about 30 shekels per tank. So that next time you don't feel such a blow to your pocket, here are some recommendations for electric cars, plug-in models, and hybrids.

Ahead of the fuel price hike at midnight, the Yisrael Beiteinu chairman criticized the government, claiming it has chosen not to intervene in the rising costs. According to him, during his tenure as Minister of Finance, measures were taken to prevent such price increases.

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.

Prime Minister Netanyahu's meeting in Washington with President Trump must also address components beyond the Iranian nuclear issue. The regime's intention to sharply raise fuel prices could lead to an outbreak of protest that would undermine its rule. The struggle against Iran must include continued economic pressure alongside military steps.

The month of July brought good news with a drop in fuel prices, but the upcoming update is expected to cancel it out almost completely. Drivers in Israel will feel the blow to their pockets as early as the beginning of next month, despite the tax safety net.