Today: 7 October 2025
28 February 2022
1 min read

Israel announce increase in fuel price

The Israeli Ministry of Energy has announced an increase in fuel prices from March 1…reports Asian Lite News

The maximum price for unleaded 95-octane gasoline, which is supervised by the Israeli government, is set at 7.05 shekels ($2.18) per litre beginning on March 1, up 34 cents from February, according to the Ministry’s monthly fuel pricing bulletin.

According to historical data published by the Ministry, the price has been at its highest level since November 2014, when it was likewise fixed at 7.05 shekels per litre, Xinhua news agency reported.

Gad Lior, a senior analyst for the Yedioth Ahronoth daily newspaper, told Xinhua that the price hike is due to a significant oil price rise in the Mediterranean basin and a two per cent increase in the rate of the US dollar against the shekel in January.

ALSO READ: Lanka on mission to combat fuel shortage

Another reason, he said, is the Israeli government’s refusal to lower the fuel tax rate, which is currently 67 per cent of the consumer price.

Israel’s fuel tax revenues totaled 21.5 billion shekels in 2021, according to the 2021 state revenues report issued by the Finance Ministry.

Previous Story

Pakistani dissidents’ bid to kill Gen Zia-ul-Huq received Russian support

Next Story

Iran vows not to compromise over redlines in Vienna nuke talks: FM

Latest from Arab News

OCTOBER 7: Stop the Violence Now, Says Guterres

Guterres recalled that “the attackers brutally killed more than 1,250 Israelis and foreign nationals….reports Asian Lite News UN Secretary-General Antonio Guterres urged an immediate halt to the violence in Gaza, Israel, and

Piyush Goyal Heads to Doha for Trade Talks

During the visit, both sides are expected to discuss the proposed India–Qatar Free Trade Agreement (FTA)….reports Asian Lite News Union Commerce and Industry Minister Piyush Goyal will travel to Doha, Qatar, on

Hamas Heads to Egypt for Gaza Talks

The negotiation will focus on the details of enacting the first phase of the plan…reports Asian Lite News A delegation from the Palestinian group Hamas arrived in Egypt on Sunday ahead of

GAZA: Egypt to Host Peace Talks

Egypt hopes the discussions will help “end the war and the suffering of the brotherly Palestinian people, which has continued for two consecutive years…reports Asian Lite News Egypt will host Israeli and
Go toTop

Don't Miss

UAE, Israel Agree to Boost Tourism Ties

Both national discussed further growing business opportunities across priority sectors,

Libya’s Parliament calls for new date for Presidential polls

Libya’s House of Representatives or Parliament has called on the