Price controlled 95 octane gasoline at self-service pumps in Israel will rise above NIS 8 per liter due to higher global oil prices and the weakening of the shekel.
The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel will rise sharply on Saturday at midnight August 1, 2026, by NIS 0.61 per liter to NIS 8.09 per liter, the Ministry of Energy and Infrastructure has announced. The charge for service at pumps in Eilat will remain NIS 0.25 per liter.
The sharp increase is due to the rise in the price of oil on global markets, following the shutdown of refining capacity in Russia due to Ukrainian attacks, as well as the weakening of the shekel against the US dollar over the past month.
The regulated gasoline price in Israel consists mainly of taxes, primarily excise tax, which is currently NIS 3.61 per liter. However, the monthly change is mainly influenced by the international fuel price in the Mediterranean region. This is influenced by three main factors, all of which have increased in price in the past month: One – the price of crude oil. The price of a barrel of Brent crude rose by $73 at the end of the previous month and has now reached a level of almost $100 per barrel. The second factor is the refining margin between crude oil and fuel products such as gasoline, which has also increased in price. The third factor is the dollar exchange rate, which has increased from NIS 2.98 to the dollar at the end of June NIS 3.08 shekels now.
Published by Globes, Israel business news – en.globes.co.il – on July 30, 2026.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.
Gas station credit: Tali Bogdanovsky
