The Fuel and Gas Administration at the Ministry of Energy and Infrastructure announced yesterday (Sunday) the updated fuel prices for October 2024. Starting from midnight between October 1 and 2, there will be a change in the prices of fuel products under supervision, sold to consumers at gas stations across the country.
According to the announcement, the maximum price for a liter of 95-octane unleaded gasoline in self-service will be 7.16 NIS per liter, including VAT. This represents a decrease of 13 agorot compared to September prices. Consumers opting for full service will need to pay an additional 24 agorot per liter (including VAT), with no change from the previous month.
In Eilat, a city exempt from VAT, the maximum price for a liter of 95-octane gasoline in self-service will be 6.12 NIS, a decrease of 11 agorot from the previous update. The additional cost for full service in Eilat will remain unchanged at 20 agorot per liter.
It is important to note that fuel prices are updated monthly by the Fuel Manager at the Ministry of Energy and Infrastructure. The update is based on a formula established in the 2002 Price Control Order on Goods and Services (Maximum Prices at Gas Stations). The formula is based on the average fuel prices in the Mediterranean region during the five trading days preceding the last two business days of each month.
This price drop is good news for consumers and drivers across Israel, who will benefit from lower refueling costs in the coming month. It is important to remember that fuel prices are subject to change according to fluctuations in the global market and other economic factors.
