Gasoline prices gas tax 311.
(photo credit: Marc Israel Sellem)
Motorists are about to receive some long-awaited relief: The maximum price of
self-service 95-octane gasoline will fall 36 agorot to NIS 7.58 in November, the
Energy and Water Ministry announced Tuesday.
The price of gasoline has
dropped significantly since it hit a record high NIS 8.25 per liter in September
on the back of several months of increases in the cost of oil and the continued
depreciation of the shekel against the dollar.
The price of gasoline is
set by the ministry each month according to the following components: the cost
of oil (NIS 2.84 in November); excise tax (NIS 2.99); marketing margins (NIS
0.64); plus 17 percent VAT on the three aforementioned components.
addition, there is a full-service fee of NIS 0.18, which brings the maximum price
in November to NIS 7.76.