Gas prices to spike to second-highest level in over a decade

Gasoline prices for Israeli consumers are set to rise again for the sixth month in a row, hitting NIS 7.90 per liter for 95 octane unleaded, or the equivalent of $7.98 a gallon. Full service will cost NIS 8.12/liter or $8.20 a gallon.

The price will mark an increase of NIS 0.18/liter over April, and nearly a full shekel over the price of NIS 6.94/liter enjoyed in December.

The planned increase marks only the second time since 2013 that prices will be 7.90/liter or higher, after prices briefly spiked to NIS 8.08 in July 2022, largely wrought by Russia’s invasion of Ukraine. Prices have only broken NIS 7.90/liter a handful of times since 2006, according to Energy Ministry data.