Gas station (file)
Gas station (file)Israel news photo: Flash 90

The price of regular 95-octane gasoline will increase to 7.40 shekels per liter this Saturday night.

The price is to go up by 8 agurot (0.08 shekels) per liter, an increase of 1.09% compared to the price for November. Full-service gasoline will cost an extra 18 agurot (0.18) shekels per liter, as before.

In Eilat, the maximum price will be 6.27 shekels per liter, a 1.07% increase over the current rate. Full-service refills will cost an additional 15 shekels per liter.

Officials gave two reasons for the price increase: a worldwide increase in price, and the recent slight strengthening of the dollar compared to the shekel.  

The price of gas hit an all-time high of 8.26 shekels per liter (roughly $7.80 per gallon) in mid-2012. The price subsequently dropped, but it has risen gradually in recent months.

Israel has one of the highest prices for gasoline worldwide.