The boycott of Iran and Tehran’s response has the world at bay as oil prices continue to rise. The price of a liter of 95 octane gasoline in Israel will increase 32 agorot as of March 1, 2012, selling for 7.67 NIS, the equivalent of $8.29 for a US gallon (based on conversion rate of $1/3.7 NIS). The final price will be announced on March 1st, but all indicators signal a hike to an unprecedented high price for a liter of gas at the pumps.
As Tehran flexes its oil muscle, there are growing fears amid Western countries that an Israeli strike against Iran’s nuclear program may spark a global fuel crisis, adding to fiscal instability and other concerns, including a regional or world war chas v’sholom.
The FARS News Agency reports today, Sunday, February 26, 2012, that Iran has denied a shipment of 500,000 barrels of crude oil to Greece, beginning to reverse the pressure of economic sanctions being placed on Tehran.
(YWN – Israel Desk, Jerusalem)
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6 Responses
how can anyone afford a car with such prices?!
So how many cars in EY require super-premium 95 octane? What’s the price of regular 87 octane? Are high compression engines very common?
In EY the lowest grade gas sold is 95.
What’s the tax amount there per liter? I am sure they collect a pretty penny to “pay” for their social programs.
WOW! for that price u could buy already 1 whole bagel in pomogranet!
Wow, crazy. Octane ratings are basically anti-knock ratings. High compression engines – usually high-performance engines – cause gasoline to sometimes self-ignite (like diesel), which is what causes knock. Normal compression engines can use gasoline with lower octane ratings. In the US, we get by with 87 octane on the vast majority of engines (Sun oil even sells 86), and “premium” gasoline goes up to about 93. In I’LL, what, they have only super-high-compression engines?