The Ministry of Energy and Infrastructure announced that as of June 2, the price will decrease by NIS 0.38 per liter to NIS 7.52 per liter.
After five straight months of hikes, the maximum price for government-controlled 95 octane gasoline at self-service pumps in Israel will fall on Saturday at midnight for the first time in 2024. Starting June 2, the price will fall by NIS 0.38 per liter. . The Ministry of Energy and Infrastructure announced that the price of a liter reaches 7.52 shekels.
The main reason for the decline in gasoline prices is the depreciation of the US dollar against the shekel in recent weeks coupled with a slight moderation in global oil prices. Since December 2023, the price of 95 octane gasoline in Israel has increased by NIS 0.96 from NIS 6.94 to NIS 7.90 at the beginning of this month.
Even after the price drop in June, consumers will not enjoy the prices available between April 2022 and the end of 2023, when the Finance Ministry reduced customs duties by varying amounts to keep the price of 95 octane gasoline under control at just under NIS 7 per litre. . As part of the cuts in the revised state budget for 2024, it was decided to cancel the excise reduction, which last year cost state coffers more than NIS 1 billion in lost revenue.
Published by Globes, Israel Business News – en.globes.co.il – on May 30, 2024.
© Copyright Globes Publisher Itonut (1983) Ltd., 2024.
Gas pump owner: Shlomi Yosef