Israel Implements Significant Fuel Price Hike

Israel is set to implement a record-high increase in gasoline prices starting next Thursday, with the price per liter reaching $2.69. This surge is attributed to the global wave of rising fuel costs and ongoing disruptions in energy markets. The Ministry of Energy and Infrastructure announced that controlled fuel prices will rise starting October 1, 2026. Consequently, the maximum price for a liter of 95 octane gasoline will be 8.27 shekels ($2.69) at self-service stations, including VAT, marking an increase of 52 agorot compared to the previous tariff. Meanwhile, the additional charge for full service remains unchanged at 26 agorot per liter. The ministry explained that this increase stems from global energy market developments, as international gasoline prices have risen by approximately 13%, driven by escalating oil prices and continuous concerns over oil supplies and global energy market stability. Furthermore, a 3% appreciation in the dollar exchange rate also contributed to the rise in fuel prices within Israel.