Gas Prices to Rise Above NIS 8/Liter

The maximum price of government price-controlled 95 octane gasoline at self-service pumps in Israel will rise on Thursday night at midnight, July 1, 36 agorot to NIS 8.08 ($2.34) per liter, the Ministry of National Infrastructures, Energy and Water Resources has announced. The charge for receiving full service at pumps from gas station attendants will remain 21 agorot.

This will add another NIS 16 ($5) to filling the tank of an average Israeli car. Filling a 45-liter tank currently costs NIS 347 ($100) and from Friday morning it will cost NIS 363 ($105).

The price of gasoline in Israel is fast approaching its all-time record high of NIS 8.25 per liter 10 years ago.

The jump in oil prices on world markets due to the war in Ukraine has already resulted in Finance Minister Avigdor Liberman cutting excise tax, which represents half of the price at the pumps, by NIS 0.50 per liter in April. The order to cut the excise expires at the end of July and Liberman is eager to extend the cut and double it to NIS 1, but it is unclear whether he will be able to do so because of the upcoming elections.

Attorney General Gali Baharav-Miara will have to decide whether the Finance Ministry can legally extend and cut the excise tax further, even though the Knesset has been dissolved.