Fuel prices have increased in the past year by 24% to NIS 6.62 per liter of unleaded 95-octane

Between Sunday and Monday, the price of fuel will increase by 23 agorot compared to the previous month and will be a maximum price of NIS 6.62 per liter of unleaded 95-octane gasoline for the consumer at the self-service station. The supplement for full service will be 21 cents per liter. This is an increase of about 24% compared to November last year when the price was NIS 5.34 per liter.
The maximum price for a liter of unleaded 95-octane gasoline per consumer at a self-service station in Eilat will be NIS 5.66 per liter. The supplement for full service will be 18 cents per liter.
In light of the recent rise in world oil prices alongside forecasts that the price will continue to rise, when not all the price increase went into the calculation of fuel prices in the previous increase, estimates in the energy economy were that fuel prices will rise even today. In the previous month there was an increase of 8 Agorot in the price of fuel.
The price of fuel has soared in the past year at rates only remembered from the beginning of the previous decade. On the eve of the Corona crisis, in March 2020, it stood at NIS 5.92, and in April fell to NIS 4.89. The lowest price was recorded in May 2020, due to the huge decrease in demand, with the slowdown in vehicle traffic at the beginning of the Corona crisis - NIS 4.79 per liter in self-service. Since then the price has skyrocketed almost every month.
The price of fuel is determined based on the weighting of average petrol prices in Europe in the five trading days preceding the last two working days of each month, with the result multiplied by the dollar exchange rate on the fifth trading day, plus local costs including marketing margin and tax surcharge.