The price of fuel is at its peak: the price of a liter of gasoline will rise to NIS 8.08, starting tomorrow at midnight
The price of fuel crossed the price of NIS 8 per liter for the first time.
The new price for a liter of 95 gasoline will be NIS 8.08 (self-service), starting tomorrow at midnight.
It is doubtful whether the fact that this is a worldwide phenomenon will comfort the Israelis who have to pay dearly to continue traveling
Between Ashkenazi
29/06/2022
Wednesday, 29 June, 2022, 10:44 Updated: 11:47
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Almost 2 shekels more, in half a year.
Rising fuel prices in Israel (Photo: ShutterStock)
The price of fuel in Israel will cross the NIS 8 threshold tomorrow (Thursday) at midnight.
The new price for a liter of 95-octane gasoline will be NIS 8.08, and those who want to enjoy full service will have to pay another 21 cents per liter.
It should be said in advance: this is a worldwide phenomenon that Israel does not miss, but it is doubtful whether this figure will be enough to comfort the drivers in Israel who have to pay much more to continue using the private car.
It should also be mentioned that the increase in fuel tariffs has a horizontal effect on rising prices in the economy, as a result of an increase in production and marketing inputs.
What caused the continued increase since the beginning of 2022?
Mainly the combination of sanctions imposed in the West, mainly in the US on the purchase of fuel and gas from Russia, due to its invasion of Ukraine, combined with the reduction of US fuel production, as a result of the Biden administration's policy on the environment,
8.08 per liter 95 in self-service, another 21 cents for full service (Photo: ShutterStock)
The discount in excise will remain, but it is not enough to curb the rise in prices
Earlier, the Ministry of Finance published for public comment a draft of the decision to uphold the reduction in excise duty on fuel for another 3 months.
The reduction of the excise tax was carried out by the Minister of Finance, Avigdor Lieberman, a few months ago, but doubts arose about his ability to renew the discount, in the amount of half a shekel per liter of gasoline, due to the political system's preparations for the elections.
Apparently, no one wants to be portrayed as leading to a further rise in fuel prices and therefore the decision to leave the assumption upright, even though it is largely legal, is likely to pass without opposition and without claims to an "election economy".
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