Israel: Gasoline Price Decrease on August 1

SadaNews - The price of a liter of 95-octane gasoline in Israel will decrease by 4.5%, amounting to about 9 agorot, starting at dawn on Friday, August 1, 2025.

According to economic experts, the weakness of the dollar against the shekel by about 1%, along with a 4.5% drop in oil prices during July, will lead to a sharp decrease of about 9 to 10 agorot in the price of 95-octane gasoline on August 1.

This marks the largest decrease in fuel prices in recent months, and it is expected to mitigate the rise in the index. The final price will be determined based on dollar prices and fuel trading data today and tomorrow.

The price per liter of gasoline is expected to be around 7.05 shekels (self-service), which is close to the lowest price recorded in January 2023 (less than 7 shekels per liter). In Eilat, it will be sold without the 18% VAT.

The price update will come into effect at dawn this coming Friday, so those who are not in a hurry should wait to fill their tanks.

It is worth noting that the dollar's weakness peaked this month when the exchange rate approached 3.30 shekels per dollar. Additionally, global oil prices have decreased due to reduced tensions with Iran and the Houthis in Yemen, according to Israeli sources.

At the beginning of 2025, the price of a liter of gasoline was 7.20 shekels. Taxes (fees and VAT) on a liter of gasoline still represent 65% of its price, one of the highest tax rates in the Western world.