Gasoline prices down 16 agorot a liter
The maximum price for full-serve 95 octane is now NIS 7.43.
The top price of self-serve 95-octane gasoline has dropped by 16 agorot per liter to NIS 7.27, a price drop of 2.15%. The maximum price for full-serve 95 octane is now NIS 7.43.
The drop in gasoline prices at midnight, ushering in the first day of July, was slightly smaller than had been expected. The decline in European oil prices, on which the maximum monthly selling price in Israel is based, was slightly offset by the strength of the U.S. dollar against the shekel and a 15-agorot increase per liter in excise taxes.
The excise tax on gasoline had been reduced in April due to public pressure over its high price, when it approached NIS 8 per liter. The reduction was temporary, expiring at the end of June, and was not renewed as the world price of oil declined. Taxes currently make up 55% of the maximum retail price of gasoline.