The price of fuel is falling: how much money will you save starting tomorrow at midnight?

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the price of fuel

The price goes down, but you will hardly feel it. The Fuel and Gas Administration at the Ministry of Energy and Infrastructure announces that at midnight between Tuesday and Wednesday (1.3.23 – 28.2.23) the prices of the regulated fuel products sold to consumers at gas stations will be updated.

The maximum price per liter of unleaded 95 octane gasoline for the consumer at a self-service station (including VAT) will not exceed NIS 6.81 per liter, a drop of 3 shekels from the previous update. The supplement for full service will be 21 shekels per liter (including VAT), unchanged from previous update. But how much will you actually save? It’s only 30 cents per 10 liters and about NIS 1.5 for a full tank, not something you’ll feel too much about.

The Ministry of Energy recommends comparing prices and choosing the most viable station for the consumer. The Fuel and Gas Administration at the Ministry of Energy and Infrastructure publishes each month the fuel prices for the following month, based on the calculation of the average fuel prices in the Mediterranean Basin region on five trading days, preceding the last two working days of each month.

More in-

The fuel price calculation formula consists of various components, among them: price per liter of gasoline in the Mediterranean basin as traded on the days of the quote, a basket of marketing expenses, excise tax, value added tax. The formula is determined according to the last representative exchange rate published by the Bank of Israel on the day preceding the two working days before the update day.

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