Gasoline prices set to fall 5% Monday night

The price will fall by NIS 0.35-0.40 next Monday night, April 2, ending the steady rise in gasoline prices since December.

The price of self-service 95 octane gasoline is set to fall by 5% from the current price of NIS 7.95 per liter. The price will fall by NIS 0.35-0.40 next Monday night, April 2, according to commercial data and the strengthening of the shekel against the dollar. The price of gasoline is based on the average quotes of CIF La Vera trade prices for fuels in the Mediterranean basin, which are then converted from dollars into shekels.

The gasoline price update will end the steady rise in the price since December. In March, the price of self-service 95 octane gasoline neared the all-time high of NIS 8.25 per liter, reached in September 2012.

Published by Globes [online], Israel business news - www.globes-online.com - on March 27, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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