Israel has 12th-highest fuel prices in West

France tops the list, at NIS 9.24 per liter, followed by Denmark, Greece, the Netherlands, Belgium, Portugal, Sweden, and Germany.

By GLOBES CORRESPONDENT
May 8, 2011 22:43
1 minute read.
Gasoline prices [illustrative photo]

Gasoline prices gas tax 311. (photo credit: Marc Israel Sellem)

The price of 95 octane gasoline now costs NIS 7.62 per liter in Israel, after the price hike on April 30. As a result, Israel has the 12th highest price of gasoline in the West, according to a price survey published by US monthly The Atlantic.

France tops the list, at NIS 9.24 per liter, followed by Denmark, Greece, the Netherlands, Belgium, Portugal, Sweden, and Germany, where the price of gasoline is over NIS 8 per liter, or over $9 per gallon, The Atlantic reported.

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The price in Finland, Italy, and the UK is also higher than in Israel, followed by Ireland, the Czech Republic, Austria, and Spain, where it costs over NIS 7 per liter.

The price of gasoline is NIS 4.17 per liter in Canada and NIS 3.52 per liter in the US, or around $4 per gallon.

Meanwhile, gasoline prices could be cut at the end of the month as the global price of oil falls, Hebrew daily Ma’ariv reported today.

Last week, the price of oil fell by $16 per barrel from its recent peak to $97.60 per barrel, but the decline halted on Friday following the publication of US macroeconomic figures.

Israeli fuel executives estimate the fall in the price of oil reflects a reduction of NIS 0.20 per liter in the price of gasoline. The price of gasoline has risen NIS 0.91 per liter since January 1. Analysts allege that the latest jump in the price of oil is due to speculators who exploited the upheavals in the Middle East to send prices upwards.


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