After several months of hovering just under the NIS 8-per-liter mark, fuel prices in Israel are set to drop significantly late Monday night — to NIS 7.57 ($2.08) per liter of self-service 95-octane.
The cost for full-service refueling will now stand at NIS 7.85 ($2.15) per liter.
The Ministry of Energy and Water Resources said the 38-agorot reduction is due to an 8-percent drop in fuel prices worldwide and a 3% drop in the value of the US dollar.
Gas prices fluctuated throughout 2012. Twice during the year, Prime Minister Benjamin Netanyahu intervened and lowered the fuel tax, taking the sting out of the price hikes. In July, prices hit a low of NIS 7.27 per liter before rising again in August and September.
In August 2012, the Globes financial daily reported that gas prices in Israel are the third highest in the world, behind only Norway and Turkey.
Get The Times of Israel's Daily Edition
by email and never miss our top stories
By signing up, you agree to the
terms
One month after that report, on September 1, gas prices in Israel hit an all-time high of NIS 8.25 per liter before dropping to NIS 7.96 at the beginning of October.
International sanctions against Iran, which have resulted in higher global oil prices, are one explanation for the rising fuel costs. Critics have also blamed local tax increases.
Help us report truthfully on social media
As a multimedia journalist, my job is to take the quality, fact-based journalism produced by The Times of Israel newsroom and make it accessible across every platform — from Instagram posts to podcasts to short-form videos.
This is how many, especially young people, consume news these days. But misinformation is rampant on social media. Our team at ToI produces accurate, responsible short-form reporting on Israel and the Jewish world.
If you believe in the importance of factual social media journalism, please consider joining our reader support group, The Times of Israel Community. Your financial support is essential to sustain responsible multimedia reporting.
— Gabriella Jacobs, multimedia journalist
Support our work
Support our work
Already a member? Sign in to stop seeing this
You're a dedicated reader
We’re really pleased that you’ve read X Times of Israel articles in the past month.
That’s why we started the Times of Israel - to provide discerning readers like you with must-read coverage of Israel and the Jewish world.
So now we have a request. Unlike other news outlets, we haven’t put up a paywall. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.
For as little as $6 a month you can help support our quality journalism while enjoying The Times of Israel AD-FREE, as well as accessing exclusive content available only to Times of Israel Community members.
Thank you,
David Horovitz, Founding Editor of The Times of Israel
Join Our Community
Join Our Community
Already a member? Sign in to stop seeing this
Add ToI as a Preferred Source on Google
