Falling Fuel Prices:
Following the outbreak of the Omicron strain, world fuel prices fell by more than $ 13 a barrel, and from Tuesday after midnight (December 1), gas prices at stations will be reduced by 24 charges per liter of 95-octane gasoline.
The maximum price for the consumer at the self-service station (including VAT) will be NIS 6.38 per liter, a decrease of 24 ag from the previous month. The supplement for full service will be 21 agorot per liter (including VAT), without change from the previous month.
The maximum price for a liter of 95-octane gasoline without lead to the consumer at a self-service station in Eilat (excluding VAT) will not exceed NIS 5.45 per liter, a decrease of 21 ag from the previous month. Change from previous month.
Most of the decline is due to the price of oil in the Mediterranean basin, which has fallen by more than 10% in recent days, as well as the strengthening of the shekel, which has reduced the price of fuel in dollar terms.
The tax component of the price of fuel - excise and VAT rose to 63%, which is NIS 4,041.
President Joe Biden recently made an extraordinary decision that the U.S. would release 50 million barrels of oil from its emergency stockpile to increase supply and influence declining oil prices. The price of futures contracts for fuel has fallen, affecting current fuel prices and dropping them by $ 10 a day and more than $ 3 the day after.Brent now costs a little over $ 68 a barrel of oil, after weeks of pricing at $ 80 and up.
Last month, the price of gas at stations increased by 23 agorot to NIS 6.62 - its current price.
Since December last year, oil prices have risen every month, except for September, when the continuum was broken when fuel prices fell by 5 cents.
In January this year, the price of a liter of fuel at stations was NIS 5.51 and at the peak of the low, in April 2020, it was only NIS 4.89.
A peak in fuel prices was recorded in September 2012, when the price of a liter of fuel at stations was NIS 8.25 per liter.
According to market estimates without the outbreak of the corona variant fuel prices would continue to rise in the coming months.
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