Third consecutive drop in fuel prices: Tomorrow night (between Monday and Tuesday) prices will be reduced by 13 shekels, and will be NIS 7.16 per liter of self-service 95 octane gasoline, according to the Ministry of Energy announcement. The supplement for full service will be 24 agorot per liter (including VAT), unchanged from the previous update.
This is the third drop in a row after last month the price dropped by 19 agorot per liter and before that by 8 agorot per liter.
The maximum price per liter of unleaded 95 octane gasoline for the consumer at a self-service station in Eilat (without VAT) shall not exceed NIS 6.12 per liter, a decrease of 11 AZ from the previous update. An increase in favor of full service will be 20 agorat (without VAT), unchanged from the previous update.
A peak in the price of fuel was recorded last May, when the price was NIS 7.9 per liter.
The Director of the Fuel Administration at the Ministry of Energy and Infrastructure publishes at the end of each month the price of 95 gasoline at the station for the following month, in accordance with the formula established in the Decree on the Supervision of Prices of Commodities and Services (Maximum Prices at Gas Stations), 2002. In accordance with the decree, the price of gasoline at the station is based on an average price of The fuel in the Mediterranean Basin region on five trading days, preceding the last two working days of each month.
In addition, the price includes a basket of marketing expenses, excise tax and value added tax. The translation into NIS is carried out according to the last representative exchange rate published by the Bank of Israel before the last two working days of each month.