Gasoline prices in Israel dropped on the average of 13% at midnight Sunday bringing the price of 95 octane fuel to NIS 5.49 a liter ($5.80 a US gallon [based on Bank of Israel exchange rate of 31 October, NIS 3.78 to a dollar]).

There has been much criticism of the system of late, objecting to the fact that gasoline prices are updates once a month, demanding price regulation more frequently since Israelis were paying too much for gas during recent weeks while the industry happily cashed in at the expense of the consumer.

(Yechiel Spira – YWN Israel)