Business in Brief

Gasoline prices drop on Tuesday

Gasoline prices are due to drop by 5.5% as of midnight tonight, with the price of 95 octane fuel at self-service pumps down 43 agorot to NIS 7.42 a liter, the Energy Ministry said on Monday. Motorists have to pay 18 agorot more per liter at full-service pumps. The reason for the drop, which follows a 3.3% increase a month ago to NIS 7.85 a liter, is due to a 10% decline in is gasoline prices in the Mediterranean Basin countries, which serves as a baseline for Israeli prices. In addition, the dollar lost some 2.6% of its value against the shekel since the end of August. Avi Bar-Eli)

Court approves NIS 7.5m settlement with filling stations

A group of nine filling station owners accused of overcharging will provide some NIS 7.5 million in benefits to consumers under a settlement tentatively approved last week by Tel Aviv District Court Judge Amiram Binyamini last week. The nine were accused in a suit filed in 2007 of violating a government directive that filling stations cannot impose surcharges when an attendant fills a tank if they do not offer a minimum number of self-service pumps. Under the settlement, those who were improperly charged have a year to request a charge entitling them to the self-service rate when the use a full-service pump. Afterwards, the balance will be offered in discounts at the stations' convenience stories for the general public. (Yasmin Gueta) 

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