Fuel

After conflicts in the Middle East and Russia pushed refining margins to a record high and affected gas stations, Julius Baer bank reveals a surprising forecast regarding the future of fuel prices in the near term.

The legal advisor to the Ministry of Finance has appealed to the Attorney General's office to approve a reduction in the excise tax on gasoline until October 31, 2026, after fuel prices surged to a record 8.25 shekels. The request is submitted during an election period, in which the government acts as a transitional government obligated to exercise restraint in the exercise of its powers.

The Freedom Fuel gas station chain, praised by Donald Trump for its low prices, is facing allegations of selling stolen fuel. A lawsuit by Mansfield Oil claims the company acquired $4 million worth of fuel without paying for it.

Russia is facing a second wave of fuel crisis following Ukrainian drone attacks on oil facilities. Major gas station chains, including Rosneft, Gazprom, and Lukoil, have imposed limits on gasoline sales. Despite government claims of market stabilization, Russia has begun importing fuel. Meanwhile, nine people were killed in ongoing hostilities, and 206 prisoners of war were returned in a mutual...