News Briefs

  Elul 10, 5767 , 24/08/07

Gasoline Prices To Drop Sharply

Falling prices in the world crude oil markets and charges that Israel's two oil refineries have colluded to fix prices will lead to a sharp decrease in the price at the pump next week. The government determines the maximum price for gasoline and adjusts the ceiling on the first of every month.

The two refiners raised the wholesale price by two percent last month, but fuel companies have pressured for a cut in the price. On world markets, the price of crude oil has dropped about 10 percent in the past three weeks.

Other archived news briefs:Aug 24 2007, 07:30 AM, 8/24/2007