Coronavirus causes fuel prices to drop in Israel, Energy Ministry says

One liter of 95 RON octane gasoline will cost NIS 4.89 including VAT, marking a reduction of NIS 1.03 or 17.4% since March.

By JERUSALEM POST STAFF
A man fills his tank at a gas station (photo credit: Marc Israel Sellem)
A man fills his tank at a gas station
(photo credit: Marc Israel Sellem)
Prices of fuel will be slashed in April to their lowest level since January 2009, the Energy Ministry said on Sunday.

One liter of 95 octane gasoline will cost NIS 4.89 including VAT, marking a reduction of NIS 1.03 or 17.4% since March. 

Oil prices have plunged as measures to counter the coronavirus outbreak have dramatically slowed global consumption, and as a price war between Saudi Arabia and Russia drags on.

According to a forecast published by S&P Global Platts Analytics on Thursday, daily global oil demand is expected to decline by around 4.5 million barrels in 2020.


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