7.07 Shekels per liter: Fuel prices in Israel drop by 16 agorot

SadaNews: The price of fuel in Israel will decrease on the night of Saturday to Sunday (November 2) by 16 agorot, bringing the price of self-service gasoline to 7.07 shekels per liter.

This decrease is attributed to the moderation in global oil prices and the weakening of the dollar against the shekel. This is the lowest fuel price recorded in 2025, the same price recorded in August.

The Fuel Administration at the Israeli Ministry of Energy sets the fuel prices monthly, taking into account several criteria, including fuel prices in the Mediterranean Basin, VAT, and the exchange rate.

In August, fuel prices dropped to their lowest level in a year and a half, reaching 7.07 shekels per liter. Now, after two months of price increases reaching 7.23 shekels per liter, the price has returned to the August level.

The Director of the Fuel and Gas Administration at the Israeli Ministry of Energy and Infrastructure stated: "This month's price drop is due to a 4% decrease in the global price compared to its price in the days before the price structure in the previous month. The drop is also due to a decrease in the representative dollar exchange rate, which fell by 3.5% compared to its price at the end of the previous month. These decreases led to a reduction in gasoline prices at fuel stations. This price is the lowest in 2025, the same as the price in August 2025."