The Israeli Ministry of Energy and Infrastructure announced that the maximum price of government-controlled 95-octane gasoline at self-service stations in Israel will be reduced as of midnight on Wednesday, August 1, by 0.08 shekels per liter to 7.48 shekels per liter.
The Israeli Ministry of Energy and Infrastructure announced that the maximum price of government-controlled 95-octane gasoline at self-service stations in Israel will be reduced as of midnight on Wednesday, August 1, by NIS 0.08 per liter to NIS 7.48 per liter. The service fee at stations of NIS 0.22 per liter will remain unchanged.
The price drop comes after the price of a liter rose by NIS 0.04 in early July, while prices fell in June for the first time in 2024. In May, the maximum price for government-controlled 95-octane gasoline at self-service pumps peaked at NIS 7.90 per liter, just NIS 0.35 less than the record high price for gasoline in Israel of NIS 8.25 per liter in 2012.
At the beginning of the year, the government reversed its policy of reducing the consumption tax on fuel to keep the price of 95-octane gasoline stable at just under NIS 7 per liter, due to the growing fiscal deficit and the high costs of the war. Between April 2022 and December 2023, this “subsidy” policy cost the state coffers nearly NIS 2 billion.
This article was published in Globes, Israeli Business News – en.globes.co.il – on July 30, 2024.
© Copyright Globes Publisher Itonut (1983) Ltd., 2024.
Gas station photo: Tali Bogdanowski