Gasoline in Israel to rise noticeably from November 5: here's why

Starting November 5, the price of 95-octane gasoline at self-service stations in Israel will increase from 7.35 to 7.85 shekels per liter. The reason is the reduction of the excise discount from 1 shekel to 50 agorot, as ordered by Finance Minister Bezalel Smotrich.

At midnight on November 4-5, 2026, gasoline prices in Israel will rise noticeably. The price of a liter of 95-octane gasoline at self-service stations will increase from 7.35 to 7.85 shekels. The new price will remain in effect until the end of November. The reason for the increase is the reduction of the state fuel excise discount. The current discount of 1 shekel per liter, introduced on October 5, 2026, expires today. From midnight, it will be halved to 50 agorot. Finance Minister Bezalel Smotrich signed the order earlier this week. The excise rate will rise from 2.81 to approximately 3.23 shekels per liter, accounting for 41% of the maximum price. Finance Ministry experts opposed further excise reductions due to the high cost to the state budget (about 300 million shekels) and lack of funding sources. The previous record gasoline price was set in September 2012 at 8.25 shekels per liter.