Israeli fuel prices to drop 27 agorot per liter starting at midnight
Shekel strength and falling global oil prices drive the biggest monthly cut in recent months
Israelis will pay less at the pump starting midnight Sunday, with the Ministry of Energy and Infrastructure announcing a 27-agorot cut in the price of 95-octane gasoline.
The maximum price at self-service stations will fall to 7.80 shekels per liter, including VAT, down from 8.07 the previous month. Full-service surcharges remain unchanged at 25 agorot per liter.
In Eilat, where VAT does not apply, the maximum price will drop by 23 agorot to 6.61 shekels per liter.
The director of the Fuel and Gas Administration, Bat Sheva Abuhatzira, attributed the reduction to two converging factors: a roughly 5% drop in the dollar-shekel exchange rate and an approximately 4% fall in international gasoline prices, with the latter accelerating toward the end of the month amid progress in US-Iran negotiations.
"The price reduction reflects the strengthening of the shekel against the dollar during the month, alongside a decrease in the international price of gasoline," Abuhatzira said, urging drivers to compare prices between stations.