9:15AM EST: While North Americans are beginning to think twice before starting their cars for a non-essential trip, Israelis, who are generally accustomed to paying more for most items and services are joining the gas-conscious public.
Gas prices are now hitting a new record, NIS 7 a liter, which translates to $8.10 for a US gallon!
According to estimates, it will not cost NIS 85 to travel from Haifa to Metula, NIS 66 from Haifa to Tel Aviv, NIS 249 from Tel Aviv to Eilat, and NIS 44 from Tel Aviv to Yerushalayim.
Bus prices are also increasing this week, as is the price for rail service around the country.
Meanwhile, oil prices surged past $143 a barrel for the first time ever Monday, and the price for a gallon of gas hit an all-time high in the United States. Light, sweet crude for August delivery rose $3.46 to $143.67 a barrel in electronic trading on the New York Mercantile Exchange, by midday in Europe. Those prices fell to $142.17, but a barrel was still up $1.96 in early trading.
On Friday, crude futures spiked to a record $142.99 a barrel in New York before closing at $140.21.
At the pump, meanwhile, U.S. gas prices continued to climb, reaching a national average of $4.086 a gallon, according to a survey of stations by AAA, the Oil Price Information Service and Wright Express. Gas prices last hit a record on June 16 when a gallon of gas cost $4.08.
(Yechiel Spira – YWN Israel)
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2 Responses
the arab countries are laughing at us how we are willing to pay for gas so much. they are filthy rich off us and we are all a bunch of losers for giving them the money. we should make a national boycott one day.
I am concerned that because the gas prices are a result of the instability in the middle east, it will cause anti semitism.