BREAKING NEWS

Gasoline prices rise by 43 agorot

By NADAV SHEMER

AUGUST 1, 2012 01:36

The maximum price of full-service 95-octane gasoline will increase 43 agorot to NIS 7.86 per liter Wednesday, the Energy and Water Ministry announced Tuesday.

A 15 percent rise in global oil prices in the past month and the shekel’s depreciation against the dollar both contributed to the increase. The last time motorists paid this much for a liter of gasoline was in May.

The price of gasoline is set by the Energy and Water Ministry each month according to five components: the cost of oil (NIS 3.02); excise tax (NIS 2.97); marketing margins (NIS 0.63); 16% value-added tax on the three aforementioned components; plus a full service fee of NIS 0.21.

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