In May, the maximum price per liter of gasoline will be 95 to NIS 4.79 per liter - a drop of 10 pence over the current month • Full-service surcharge will be 21 pence per liter • Yesterday's 30% drop in US oil price WTI

• Fuel prices are reaching a new low

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  Photo: Coco

The Corona virus continues to signal and affect the price of fuel:  By midnight Thursday to Friday, prices of controlled fuel products sold to the consumer at the gas stations will be updated.

The maximum price per liter of 95 octane unleaded gasoline at a self-service station (including VAT) should not exceed NIS 4.79 per liter - a decrease of 10 penny compared to the previous month. The full service charge will be 21 cents per liter (excluding VAT), unchanged from the previous month. Of 8 agar from the previous month. The full service charge will be 18 cents per liter (excluding VAT), with no change from the previous month.  

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Oil prices are plummeting, but not at gas stations

U.S. oil prices are at a 21-year low

The black gold that became worthless

Fuel prices are falling, among other things, due to the dramatic drop in oil prices in recent times. Yesterday evening, it was announced that WTI US oil had plunged 30%, trading at $ 12 a barrel, which is for sale in June. It should be noted that last week, at the peak of the crisis, this kind of oil traded at a low of $ 7 a barrel, while the May contracts recorded a negative price. Brent oil traded at $ 20 a barrel - down about 8%.

The sharp decline is reportedly due to the fact that the physical location for storing oil barrels is shrinking, and there is a possibility that oil producers with surpluses will lead to an additional negative price. This scenario shows that investors are skeptical that the world will return to a full life routine in the coming month, which should in turn also lead to fuel consumption at a level familiar to the Corona crisis. In addition, China's big bank has announced that it is suspending options on oil-tracking devices - a step that is interpreted as a distrust of the market that could lead to huge losses.