Gasoline prices to rise back above NIS 7 per liter

• Author: Globes correspondent
• Published date: 28 April 2022
• Publication title: Globes (Rishon LeZion, Israel)

Oil prices rose sharply in February and March following Russia's invasion of Ukraine but remained stable in April. The Ministry of National Infrastructures, Energy and Water Resources has said that the reasons for the latest rise are the depreciation of the shekel against the dollar over the past month and the impact of inflation, with excise tax on the gasoline raised in line with the Consumer Price Index (CPI)

The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel was NIS 7.44 at the start of April, the highest price since 2014, but fell to NIS 6.94 after Minister of Finance Avigdor Liberman cut the excise tax on fuel by NOS 0.50 per liter, in order to...