Gasoline

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.

Or Poriya, Chairman of Poriya Finance, points to the combination of geopolitical tension, pressure in the bond market, and expected interest rate decisions, warning: despite optimism in the AI sector, market volatility is expected to rise sharply.

The move to reduce the excise tax could cost the state treasury hundreds of millions of shekels. The Ministry of Finance is awaiting the Attorney General's decision on the feasibility of the move or whether it will be disqualified on the grounds of 'election economics'.

Starting September 1st, the maximum price for a liter of 95-octane gasoline at self-service stations will reach 8.25 shekels. This marks a 14-year high for fuel prices in Israel.

The price of a liter of 95-octane gasoline at self-service pumps is jumping by 16 agorot and will stand at 8.25 shekels in September — identical to the record set 14 years ago. The reasons: a jump in fuel prices in the international market and an update to the excise tax.

Numerous reports in Iran point to a severe fuel shortage. Opposition sources report a "red alert" over a critical deficit, which is sparking debate even at the top of the regime. Against the backdrop of threats from the US, there is panic among citizens and turmoil in shops. Industrial plants have announced a halt in operations.

After a sharp jump in fuel prices this month, the cost is expected to drop in September by approximately 25 agorot to 7.84 shekels per liter. The final price will be determined on Sunday morning based on oil prices and the dollar exchange rate.

A liter of gasoline will jump at midnight by 61 agorot, and by about 30 shekels per tank. So that next time you don't feel such a blow to your pocket, here are some recommendations for electric cars, plug-in models, and hybrids.

Starting midnight Saturday, fuel prices will rise by 61 agorot per liter. The price of 95-octane gasoline at self-service stations will reach 8.09 shekels.

The month of July brought good news with a drop in fuel prices, but the upcoming update is expected to cancel it out almost completely. Drivers in Israel will feel the blow to their pockets as early as the beginning of next month, despite the tax safety net.