Israel Fuel Prices Surge Above 8 Shekels Per Liter - Sharp increase driven by war-related jump

Fuel prices in Israel will rise sharply at midnight between Tuesday and Wednesday, with the maximum price of 95 octane unleaded gasoline at self-service stations set at 8.05 shekels per liter, including VAT.

This marks an increase of 1.03 shekels compared with the previous update, according to official pricing data.

The surcharge for full-service refueling will remain unchanged at 25 agorots per liter.

Prices in Eilat also climb

In Eilat, where fuel is sold without VAT, the maximum price per liter will rise to 6.82 shekels, an increase of 87 agorots.

The surcharge for full service in Eilat will remain unchanged at 21 agorots per liter.

Global oil prices and war drive increase

_{The price hike is primarily attributed to a sharp rise in fuel prices in the Mediterranean basin, which have climbed by approximately 49% in recent weeks.}

_{The increase has been driven largely by higher global oil prices linked to the ongoing war, which has disrupted energy markets and heightened geopolitical uncertainty.}

Currency effects add further pressure

_{In addition to rising oil prices, a roughly 2% increase in the fuel exchange rate has contributed to the higher cost for consumers.}

_{The combined impact of global market trends and currency fluctuations has pushed Israeli fuel prices to some of their highest levels in recent years, adding pressure on households and businesses already facing rising costs.}