Good news for drivers – on motzei Shabbos, gasoline prices are dropping. The new prices will go into effect at midnight motzei Shabbos to Sunday.

Regular 95 octane gasoline will sell for 5.75 NIS for a liter (including VAT tax), a 23 agorot drop, which amounts to a 3.84% reduction in price. The price differential for full service remains the same, 19 agorot per liter.

The reason for the sharp drop is a drop in the price of oil worldwide by 11.9%, in addition to a 1.5% depreciation of the dollar. However, the tax rate is still 3.86 NIS per liter and constitutes 67% of the price of gasoline!

At the new price of 5.75 NIS per liter, a gallon of gasoline will cost $6.53 based on the exchange rate of $1/3.52 NIS, the closing Bank of Israel rate on Wednesday, 4 Tammuz.

(YWN – Israel Desk, Jerusalem)