The price hike is less than earlier anticipated, following the agreement on Iran's nuclear program, which pushed down the price of oil in the past few days.
The price of gasoline will rise by 1% at midnight Saturday, November 30. The price of self-service 95 octane gasoline will rise by NIS 0.08 per liter to NIS 7.40 per liter. The price hike is less than earlier anticipated, following the agreement on Iran's nuclear program, which pushed down the price of oil in the past few days.
The full-service fee will remain unchanged at NIS 0.18 per liter.
The price hike is because of the rise in the price of oil in the Mediterranean basin in November, and the strengthening of the shekel against the dollar during the month. 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 price hike comes after two months of price cuts from NIS 7.85 per liter in August.
Published by Globes [online], Israel business news - www.globes-online.com - on November 28, 2013
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