Israeli gas prices to rise to record NIS 7.72 per liter on Tuesday

The past month saw a 20% rise in oil in world markets, which is the primary reason for the upcoming rise in gas prices.

Person filling car gas tank 370  (photo credit: Thinkstock/Imagebank)
Person filling car gas tank 370
(photo credit: Thinkstock/Imagebank)

The price of gasoline in Israel is set to rise overnight between Tuesday and Wednesday of this week.

The price will rise by 66 agorot to NIS 7.72 per liter. The former price of NIS 7.06 was charged nationwide except in Eilat, according to the Energy Ministry. The cost of having an attendant pump gas will remain at NIS 0.21 per liter, the ministry said.

In Eilat, gas prices currently stand at NIS 6.04 and will rise to NIS 6.60. The cost of having an attendant in Eilat pump gas is NIS 0.18 per liter.

The prices mentioned do not include value-added tax, which is set by the Finance Ministry.

Background on gas prices

Gas prices broke the eight-year record high in February when gasoline prices rose alongside the price of oil due to the Russian invasion of Ukraine. March saw a decrease in oil prices worldwide, but Israel’s gas prices remained unchanged.

The past month, however, saw a 20% rise in oil prices in world markets, which is the primary reason for the upcoming rise in gas prices, according to a Globes report on Sunday.

 A person uses a petrol pump at a gas station as fuel prices surged in Manhattan, New York City, US, March 7, 2022.  (credit: REUTERS/ANDREW KELLY) A person uses a petrol pump at a gas station as fuel prices surged in Manhattan, New York City, US, March 7, 2022. (credit: REUTERS/ANDREW KELLY)

Gas prices fell extremely low at NIS 4.89 at the start of the COVID-19 pandemic in April 2020.

Zachy Hennessey contributed to this report.