Fuel prices continue to rise: price for a liter of unleaded 95-octane will increase to NIS 6.36

Fuel prices continue to rise: The maximum price for a liter of unleaded 95-octane gasoline per consumer at a self-service station (including VAT) will increase to NIS 6.36 per liter in August, an increase of five cents from the previous month. "M), without change from previous month. The maximum price per liter of unleaded 95-octane gasoline for a consumer at a self-service station in Eilat (excluding VAT) will not exceed NIS 5.44 per liter.
The rise in prices of five cents in August joins the upward trend in fuel prices in December, January, February, March, April, May, June and July, when since November 2020 the price of fuel has risen by NIS and three cents - from NIS 5.34 per liter to NIS 6.36.
Since 2006, when the Ministry of Energy started publishing fuel prices on its website, the lowest price was NIS 4.79 per liter for self-refueling a year ago - in May 2020. Before the eruption of the corona in Israel, which lowered fuel prices to an all-time low, fuel prices stood at 5.92 NIS in March 2020. The highest price was recorded in September 2012, when one liter of self-service cost NIS 8.12.
74% of the price of a liter of fuel is taxes and marketing expenses, so the price of the fuel itself is actually only 26% of the price to the consumer. Israel is one of the countries with the highest tax rate in the world on fuel. The Ministry of Finance fears that state revenues will soon fall from taxes on fuel for cars due to the relatively rapid transition to cars traveling on electric charging. For this reason, the Treasury is already preparing new taxation methods, which will make up for the loss. Among other things, it is proposed to collect tax according to the distance traveled - those who travel more kilometers will pay more - as well as collecting congestion fees at entrances to major cities.