What Are the Reasons for Israel's Record Gasoline Price Hike to $2.69 per Liter?

Gasoline prices in Israel are witnessing a record increase that will reach $2.69 per liter starting next Thursday, according to the Israeli Broadcasting Corporation.

This rise comes amid a global wave of fuel price inflation and disturbances in energy markets.

According to the corporation, the Ministry of Energy and Infrastructure announced that regulated fuel prices will increase starting October 1, 2026, bringing the maximum price for a liter of 95-octane gasoline to 8.27 shekels ($2.69) at self-service stations, including VAT, an increase of 52 agorot compared to the previous tariff.

The surcharge for full service is 26 agorot per liter, unchanged from the previous tariff.

The ministry explained that the price increase comes in light of developments in global energy markets and a rise of approximately 13% in international gasoline prices, driven by higher oil prices and ongoing fears regarding oil supply security and the stability of the global energy market. Additionally, the dollar exchange rate increased by about 3%, contributing to higher fuel prices in Israel.

(Dollar = 3.07 Israeli Shekels)

Source: RT + Israeli Broadcasting Corporation