Israel gas prices see rare drop
After hitting record high in September, rates back down under NIS 8 per liter
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Israelis saw fuel prices drop by 31 agurot on Oct. 1, one month after prices hit a record high of NIS 8.25 ($2.12) per liter.
Israeli consumers are still paying more to fuel their cars than almost anyone: In August, the Globes financial daily reported that gas prices in Israel are the third highest in the world, behind only Norway and Turkey.
Gas prices fluctuated throughout 2012. Twice this year, Prime Minister Benjamin Netanyahu has intervened and lowered the fuel tax, taking the sting out of the price hikes. In July, prices hit a low of 7.27 per liter before rising again in August and September.
International sanctions against Iran that have resulted in higher global oil prices are one explanation for the rising costs this year. Critics also blame local tax increases.
The Times of Israel Community.