BREAKING NEWS

Gasoline consumption reaches an all-time high

By NADAV SHEMER

SEPTEMBER 3, 2012 17:34

Motorists purchased more 95-octane unleaded gasoline in July than in any other month on record, the Energy and Water Ministry announced Monday. The figures include consumption in the Palestinian Authority.

Gasoline consumption usually spikes in July as a result of the school holidays, but last month’s mark of 247 million tons was a new record. In comparison, gasoline consumption reached 231 million tons in June, and 241 million tons in July last year.

On Sunday, the maximum price of self-service 95-octane rose 55 agorot to a record-high NIS 8.25. The hike was caused by a 14% increase in the cost of oil, the continued depreciation of the shekel against the dollar, and an increase of one percentage point to value-added tax.

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