Gasoline prices up for third month in a row
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Gasoline prices up for third month in a row

Energy Ministry announces hike in costs, which went into effect at midnight; 63% of the cost of fuel is taxes

Illustrative photo: filling up at an Israeli gas station. (photo credit: Kobi Gideon/Flash90)
Illustrative photo: filling up at an Israeli gas station. (photo credit: Kobi Gideon/Flash90)

The price of gasoline rose by 20 agorot (approximately 5 cents) at midnight on Sunday, marking a 3% rise in the cost of fuel from a self-service pump.

The increase marks the third time in as many months that the cost of gasoline has gone up.

According to an announcement from the Energy Ministry, the maximum price per liter of unleaded 95 octane gasoline (including VAT) will not exceed NIS 6.32 per liter and in Eilat (where there is no VAT) the price will be no higher than NIS 5.40 per liter.

The cost of fuel was on a downward trajectory until January, when it began to rise. The cost of gasoline has increased by 41 agorot in the past two months alone.

The latest price rise is apparently due to an increase in the cost of oil, as well as an increase in the cost of the dollar exchange rate.

Sixty-three percent of the cost of fuel is taxes — both excise and VAT.

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