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Contrary to some of the early volatile scenarios about a surge in the price of barrels of oil worldwide, the oil market has responded with relatively moderate spot increases.
The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel will rise on Monday at midnight July 1, 2025, by NIS 0.01 per liter to NIS 7.15 per liter, the Ministry of Energy and Infrastructure has announced. The charge for service at pumps will remain unchanged at NIS 0.24 per liter. This is the second consecutive month that the price of gasoline has risen by NIS 0.01.
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The monthly fuel price update this time also takes into account the effects of the war with Iran. Contrary to some of the early volatile scenarios about a surge in the price of barrels of oil worldwide, the oil market has responded with relatively moderate spot increases. At the same time, the shekel has strengthened significantly against the dollar, pushing down the final retail price at gas stations in Israel.
Since the start of 2025, the maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel has fallen by NIS 0.05 per liter. For the sake of comparison, the most expensive that 95 octane gasoline has been recently was NIS 7.90 in May 2024 and the cheapest was NIS 6.81 in April-May 2023, partly due to a temporary cut in excise tax.
The price of gasoline is calculated by the Ministry of Energy at the end of each month, based on the average oil prices in the Mediterranean region and the shekel-US dollar exchange rate. In addition, the price includes a basket of marketing expenses for the gas station, excise tax, and VAT.
Published by Globes, Israel business news - en.globes.co.il - on June 29, 2025.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.
Gas station credit: Shutterstock
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