Gas in Israel to skyrocket again: drivers face an unpleasant surprise

According to forecasts, the price of a liter of gasoline in Israel could rise by more than 40 agorot and once again exceed 8 shekels. The main reason is the rise in global oil prices due to tensions around Iran, Houthi actions, and relations between Russia and Europe. The increase will almost completely negate the recent government discount of 50 agorot.

Gas prices in Israel could rise sharply as early as next week. According to current calculations, the cost per liter of fuel could increase by more than 40 agorot and once again exceed the psychological threshold of 8 shekels. The main reason cited is the continued rise in oil prices on global markets. Factors include tensions around Iran, Houthi actions in the Bab el-Mandeb Strait area, and strained relations between Russia and Europe. Earlier this month, the government intervened and funded a discount of 50 agorot per liter to ease the burden on drivers. However, the new increase will almost completely negate the effect of this measure. Estimates suggest the price hike could increase total consumer spending by approximately 300 million shekels. The final price of gasoline will be announced in a few days.