Gas prices to stay steady despite fears of war crunch

29 June 2025, 2:16 pm

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Despite fears of rising fuel prices due to the war with Iran and damage to major energy infrastructure, gas prices are set to only go up by a single agora ($0.003) to NIS 7.15 per liter (approximately $7.81/gallon) on July 1, the Energy Ministry announces.

The tiny increase is credited to the dollar weakening against the shekel by 4.18 percent, which offsets a 4.7% rise in the price of fuel shipments, according to the ministry.

Global oil futures rose precipitously during the war, but dropped off sharply following the announcement of a ceasefire on June 23, though they remained higher than before fighting began 12 days earlier.