Gov't limit on gas price to rise to NIS 5.50 per liter on September 1
The rise in price reflects the overall ongoing rise in oil prices on global markets, which is due to efforts by Western nations to get their economy moving again.
By AARON REICHFilling gas tank of car, illustrative (photo credit: HADAS PARUSH/FLASH90)
The price of gas in Israel is set to rise by NIS 0.05 starting midnight on September 1, with the new price totaling NIS 5.50 per liter, Globes reported, citing the Energy Ministry.The government has risen its maximum price on 95 octane gasoline before, with it rising a total of NIS 0.69 over the past three months. This was due to a five-month slump in demand for gasoline, as people have been traveling less and less due to the coronavirus pandemic.However, the rise in price reflects the overall ongoing rise in oil prices on global markets, which is due to efforts by Western nations to get their economy moving again.As usual, the price for gas in Eilat differs due to the lack of VAT, but it will see a rise of NIS 0.04 to a total of NIS 4.70 per liter.Gas prices in Israel are controlled by the government as a means of regulating them, so while prices may vary between companies, there is one maximum limit set by the state.
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