By Hedy Cohen
The price of a liter of 95-octane gasoline at self-service pumps in Israel is set to rise NIS 0.10 to NIS 6.62 on Thursday night at midnight, May 1, sources in Israel’s energy market believe. The rise is caused by higher oil prices on global markets.
This would be the third consecutive month that fuel prices have risen in Israel after falling sharply to their lowest level in five years in February.
On global markets, the price of a barrel of West Texas Intermediate (WTI) has reached a three – month high of $57.15, and a barrel of Brent crude is selling for $65.28, a three-month high. Prices are influenced by growing demand, dwindling supply and Middle East tensions.
The price of gasoline fell by NIS 0.63 per liter at the beginning of January, by NIS 0.15 at the beginning of December and by NIS 0.27 at the beginning of November due to the decline in the price of oil on world markets.