Israel Cuts Fuel Prices Amid Declining Global Gas Costs

Israel's Ministry of Energy announces a reduction in fuel prices, marking the lowest rates since early 2024. This drop follows a decline in global gasoline prices and a weaker dollar, providing relief at the pumps for consumers across the nation.

The Israeli government has announced a reduction in fuel prices effective midnight, with the new rates set to offer significant relief to consumers. Petrol at self-service stations will not exceed 7.07 Shekels (USD 2.08) per litre, following an 0.08 Shekel reduction. The full-service surcharge remains unchanged at 0.24 Shekels.

Batsheva Abuhatsira, Director of the Fuel and Gas Administration at the Ministry of Energy and Infrastructure, cited a decline in international gasoline prices and a weakened dollar as key factors influencing the price drop. The new rates represent the lowest prices since early 2024.

Officials are urging consumers to shop around for the best prices available at various gas stations, promoting consumer awareness and safety. The reduction comes as a welcome change, reflecting international trends and offering economic relief to households throughout the country.

(With inputs from agencies.)