Fuel prices in Israel decrease starting from July 1st

SadaNews Economy - The Israeli Ministry of Energy and Infrastructure announced today, Sunday, that regulated fuel prices will drop starting from midnight Tuesday - Wednesday, July 1st, by 32 agorot per liter of 95 octane gasoline.

According to a statement issued by the Ministry of Energy and Infrastructure, the maximum price for a liter of unleaded 95 octane gasoline for consumers at self-service gas stations will not exceed 7.48 shekels per liter, including value-added tax, reflecting a decrease of 32 agorot compared to the previous update.

The ministry clarified that the full service fee will remain unchanged at 25 agorot per liter, including value-added tax.

The director of the fuel and gas department in the Israeli Ministry of Energy stated that "the price of gasoline at the stations decreased this month by 32 agorot per liter compared to the previous update, which is the largest monthly decrease in the last three months."

She added that "since April, the price of gasoline has decreased by a total of 59 agorot per liter," explaining that "the main part of this month's decline is attributed to a decrease in gasoline prices in international markets, against the backdrop of declining risk premiums in energy markets and a fading of some concerns about disruptions in global oil supply."

According to the ministry official, "the global gasoline price has fallen by about 16%", however, "the rise of the dollar by about 6% against the shekel worked in the opposite direction and slightly reduced the size of the decrease for consumers."

The Ministry of Energy and Infrastructure urged the public to compare prices among gas stations and choose the least expensive station.