Just when many though gasoline prices in Israel cannot get any higher that is just what is going to happen. At the end of this week, the price for a liter of gasoline is expected to increase by another 50 agorot, to 8.30 NIS (the equivalent of $8.25/ US gallon).

Officials explain this is the result of an increase in the international market as well as a 1% hike in Israel’s value added tax, from 16% to 17%.

Treasury officials insist the reason for the increase is the price of fuel in the international market and not because of local taxes.

(YWN – Israel Desk, Jerusalem)