The petrol prices in Israel
rose on midnight Tuesday by over 8%, in accordance with the National Infrastructure Ministry's gasoline division's update for April.
The price of octane-95 gasoline is now set at NIS 5.46 ($1.29) per liter, an 8.33% rise compared to March. In Eilat a liter of octane-95 gasoline costs NIS 4.74 ($1.12), an 8.47% rise compared to last month.
The gas station service charge will remain unchanged from March, at 13 agorot (3 cents) throughout the country and 11 agorot (2.6 cents) in Eilat.
As of February, the price of octane-96 gasoline is no longer supervised, and therefore its maximum price is not included in the ministry report.
The ministry recommended consumers compare prices of octane-96 gasoline at different gas stations, since this could lead to a 5% save in gas prices.
The increase in gas prices follows the continuing rise in the price of oil. During the month of March the price of a barrel of oil rose by 25%, from $40 a barrel at the start of March to $50 a barrel by the end of the month.
At the end of 2008 oil was sold at $30 a barrel, but has constantly been rising ever since.
The Infrastructure Ministry updates the petrol prices at the end of every month, in accordance with the gasoline prices in the free market in Europe.
The ministry's workers calculate the price using a formula based on the petrol prices in the European market on the first five days of the last seven working days of the month.
However, since oil prices are set in dollars, gas prices are also sensitive to any fluctuations in this currency. The ups and downs of petrol prices in Israel are less sharp than changes in oil prices, due to the tax on petrol, that is constant and a central component in the overall price.
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