The price of gasoline will rise this coming Thursday night at midnight for the second time in as many months.
As of Friday, the price for a liter of unleaded 95-octane gasoline will increase by 39 agorot to a maximum high of NIS 7.44.
The “full service” supplement will cost an extra 21 agorot per liter.
Gasoline Prices Rising (Again) Monday Night
Gas prices also rose three times in 2021, in January, May and October.
The director-general of the Fuel Administration at Israel’s Energy Ministry, Chen Bar-Yosef, explained in a statement that “the last month has been characterized by price increases and very high volatility.”
Bar-Yosef cited the war in Ukraine as one of the reasons for that volatility, and China’s lockdown of Shanghai and surrounding provinces as another.
But given the fact that Israel produces its own fuel from its natural gas fields beneath the waters of the Mediterranean Sea, it is not clear why consumers in the Jewish State are being affected by these factors.
Barely a month ago, just after Russia’s invasion of its neighbor and a rise in global oil prices, the National Infrastructures, Energy and Water Resources Ministry announced the cost for a liter of unleaded 95-octane Israeli gasoline would rise on March 1 by 34 agorot, to NIS 7.05. (In Eilat, where there is no sales tax, it rose by 29 agorot to NIS 6.03 per liter.)
The price for “full service” at the pumps, per liter, remained at 21 agorot. (In Eilat it was 18 agorot.)
Last month’s price hike brought the cost of the fuel to its highest point since 2014. This Thursday night, Israel will break its own record, just two weeks before Passover.
