Gasoline prices will drop of 47 agorot (about 13 cents) a liter starting on Sunday, following a sharp decline in global petroleum prices, which is being partly offset by a strengthening of the dollar against the shekel.
The Energy Ministry said on Thursday that after midnight on Saturday night, the price for 95 octane gasoline at self-service pumps cannot exceed 6.01 shekels a liter, including value-added tax. The added cost for full-service pumps remains 21 agorot, unchanged from the previous month, it said.
In Eilat, where there is no VAT, self-service 95 octane gas goes down to 5.13 shekels a liter, a drop of 41 agorot. Gas at full-service pumps will cost an additional 18 agorot.
World oil prices were set on Thursday for their biggest one-month fall since the financial crisis in 2008, having lost about 22% in November.The reason is a rise in crude supply from the U.S., together with Saudi Arabia’s insistence that it will not cut output on its own to stabilize the market.
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