On Tuesday night at midnight, there will be an adjustment in gasoline prices at the pumps in Israel the price of a liter of 95 octane fuel at the self-service pumps will be NIS 6.30 including VAT. Based on the Bank of Israel closing exchange rate of Monday, 13 Shevat, of 3.040 shekels = $1 US, a US gallon of fuel under the new price will be $8.28! The latest increase represents a 1.78% increase from January prices.
If wishes to have full service instead of self-service, then one will be charged an additional 20 agorot per liter.
The tax rate on the consumer price of a liter of fuel is 65% according to a Globes article published on November 1, 2016, among the highest in the world. It adds that the tax rate has increased 10%, from 55% to 65% in four years.
(YWN – Israel Desk, Jerusalem)