Gasoline prices in Israel are set to rise sharply at midnight between Wednesday and Thursday, according to an announcement Tuesday morning by the director of Fuels and Gas at the Ministry of Energy and Infrastructure.
The maximum price for a liter of 95-octane unleaded gasoline at self-service stations, including VAT, will rise by 52 agurot to 8.27 shekels per liter. The surcharge for full service will remain unchanged at 26 agurot per liter.
In Eilat, where fuel prices are calculated without VAT, the maximum price for a liter of 95-octane gasoline at self-service stations will increase by 44 agurot to 7.01 shekels. The full-service surcharge will remain at 22 agurot per liter.
The Fuels and Gas Authority attributed the sharp increase to several factors affecting global and domestic energy markets, including rising global oil prices and a stronger dollar.
Another factor is the update to the fuel excise tax. The tax was reduced by 50 agurot per liter last month under a temporary order that is set to expire at the end of October.