Price of gasoline to drop to NIS 7.86 per liter in May

By NADAV SHEMER
April 29, 2012 17:06

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

The maximum price of full-service 95-octane gasoline will drop 14 agorot to NIS 7.86 per liter on May 1, the Energy and Water Resources Ministry announced Sunday.

The price would have been reduced by an additional 10 agorot if not for the government’s cancellation of a temporary cut in the gasoline excise. Prime Minister Binyamin Netanyahu intervened three times in the first four months of the year to ensure gasoline did not rise above NIS 8 per liter – considered a psychological threshold for consumers.

A spike in global oil prices in the first quarter and the shekel’s depreciation against the dollar both contributed to a gradual increase in the price Israeli motorists pay for gasoline in the first four months of 2012.

The price of gasoline is set by the Energy and Water Ministry each month according to five components: the cost of oil (NIS 3.17 per liter in May); excise tax (NIS 2.84); marketing margins (NIS 0.59); 16% VAT on the three aforementioned components; plus a full service of NIS 0.21.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Breaking news
October 15, 2018
IDF: Stabbing reported in West Bank

By JERUSALEM POST STAFF