The Fuel and Gas Administration at the Ministry of Energy and Infrastructure announced that a significant reduction in fuel prices will take effect at midnight between Wednesday and Thursday.
The maximum price for a liter of 95-octane gasoline in self-service (including VAT) will be 6.85 shekels per liter-down 26 agorot from last month. The surcharge for full service will remain unchanged at 25 agorot per liter.
In Eilat, the maximum price for a liter of 95-octane gasoline in self-service (excluding VAT) will be 5.80 shekels per liter, a decrease of 23 agorot. The surcharge for full service will stand at 21 agorot per liter.
Bat-Sheva Abuhatsira, head of the Fuel and Gas Administration, said: “For the first time in two years, the price of gasoline is falling below 7 shekels per liter. This is a significant decrease, resulting from an approximately 11% drop in international gasoline prices in the Mediterranean region, due to an oversupply of refined products, reduced demand, and a decline in the geopolitical risk premium. In addition, the U.S. dollar has weakened by about 2%.”