TEL AVIV: On April 1, gasoline prices in Israel increased by 14.67%, rising by 1.03 shekels ($0.33), from 7.02 shekels ($2.22) to 8.05 sheke...
TEL AVIV: On April 1, gasoline prices in Israel increased by 14.67%, rising by 1.03 shekels ($0.33), from 7.02 shekels ($2.22) to 8.05 shekels ($2.55) per liter, a TASS correspondent reported.
The price of one liter of 95 octane gasoline at Israeli gas stations surpassed 8 shekels for the first time since 2022, amid the US and Israeli military operation against Iran, the economic newspaper Calcalist says.
According to the publication’s price analysis, taxes and fees still make up the bulk of the consumer's gasoline price - approximately 60% of the total. Of the 8.05 shekels per liter, excise tax accounts for 3.60 shekels, and VAT accounts for another 1.23 shekels, the publication notes.
Diesel fuel prices at gas stations in Israel also increased on April 1 by 2.02 shekels ($0.64), from 8.24 shekels ($2.60) to 10.26 shekels ($3.25), the TASS correspondent confirmed.
The Ynet portal notes that the Israeli government has decided not to cut the excise tax this time. The record price for a liter of 95 octane gasoline at Israeli gas stations was 8.25 shekels in September 2012. At that time, the cabinet lowered the excise tax, but this measure was subsequently canceled and reinstated in the summer of 2022, when the price of fuel reached 8.08 shekels per liter. The excise tax reduction was rescinded again in early 2024 due to the rising costs of the military operation against Hamas in the Gaza Strip.
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