The price of gasoline at the pump is set to drop 1.2% midnight Saturday, bringing the price of 95-octane gasoline to NIS 7.36 per liter ($8 per gallon) at self-service stations, a drop of NIS 0.09.
In Eilat, where there is no sales tax, the price of 95-octane gasoline is to fall by NIS 0.07 to NIS 6.24 per liter ($6.77 per gallon).
The service charge at full-service pumps around the country remains NIS 0.18 ($0.05) per liter.
The new prices are set to be updated at gas stations throughout the country by the Saturday midnight deadline.
The price change is due to a “drop in the average quotes of CIF La Vera trade prices for fuels in the Mediterranean basin, and the stable shekel-dollar exchange rate during January,” the Globes business journal reported on Thursday.
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According to government data, some 57 percent of the price of gasoline in Israel is due to various taxes imposed on the fuel, News1 reported.
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