The price of fuel is one of the consumer expenses for individuals and businesses so it is important to be updated what the price is next month as advertised by law. The price is updated monthly and towards the end in accordance with the publication of the Ministry of Energy in Israel.
The purpose of this page is to be updated at all times about the latest fuel price in Israel (95 octane gasoline price). In addition, you can see what the product consists of to know what affects it each month and how it is calculated.
Current fuel price today
How much is a liter of fuel? The following table shows the latest fuel prices for next month today (lead-free 95-octane gasoline prices – per liter). Updated data: current fuel price today – 95 gasoline.
When is the price of fuel updated?
The price of a liter of fuel (95 octane gasoline) is updated at midnight the night before the first working day of each month. That is, the price of fuel will usually be updated every 1 for the next month. However, if the 1st of the month falls on a Saturday or holiday, then the fuel price update will apply on Saturday night or holiday night.
Which fuel products are under the supervision and which are not?
In the past, the prices of various fuel products were controlled by the price of a refinery. In 2007 BAZAN (oil refinery) was privatized and therefore the maximum prices of many fuel products are not set by the state, except for products that are sold exclusively or close to it by only one refinery.
- Supervised fuel products: 95 octane gasoline, tar, 3.5% sulfur heavy fuel oil.
- Unsupervised fuel products: diesel for transport or for heating, kerosene, liquefied petroleum gas (LPG) – cooking gas, naphtha, and light fuel oil. Also, there is no supervision of various vehicle products such as brake oil, steering oil, and the like.
In fact, the only consumer price that is monitored is 95 octane gasoline. Heavy fuel oil and tar are monitored at the price at the entrance to the refinery and it does not include expenses of the fuel companies. In other words, the only price monitored at gas stations is that of gasoline.
Fuel price composition
So what does the price of fuel (petrol 95) consist of? Here are the main components of the maximum price:
- Refinery Gate Price – The maximum price a refinery may sell. This price is determined by the fuel prices (CIF W MED price with additions) in Europe by multiplying the exchange rate.
- Excise tax – This is an indirect tax imposed on fuel, tobacco, and alcohol. The tax is updated in January, May, and September by law.
- Marketing margin – the marketing expense basket (marketing margin) of gas stations, the amount is monitored by the state.
- Value Added Tax (VAT) – 17% tax applicable to the price before VAT according to law.
This is the price for self-service at gas stations
Additions to the maximum fuel price
In full service (refueling by a gas station employee) there are additions to the maximum price and they are:
- Extra for full service.
- Extra for the sale of fuel at these times: between 20:00 in the evening and 6:00 the next morning, on days of rest, on Independence Day.
Full-service gas stations are not allowed to charge any extra from the maximum price.
Calculation of the price of fuel per liter
The price of fuel is determined by weighting the average price of gasoline in Europe (Cargoes C.I.F Med Basis Genova / Lavera) in the 5 trading days of Platt’s European Market Scan, which preceded the last 2 working days of each month.
This average price is multiplied by the dollar/shekel exchange rate on the fifth trading day – this amount is actually the price of a refinery exchange rate with additions.
To this price is added the excise tax which is a tax according to the number of liters, and is affected by the consumer price index. To this amount is added the marketing margin of the various fuel companies, i.e. these are the revenues of the fuel companies.
This amount is the amount without VAT and is sold at gas stations in Eilat. VAT must be added to this price according to law – and this is the maximum price for the consumer.
Fuel prices in Israel
The following are the maximum gas prices at the various gas stations in recent times:
Below is more information related to this article.
1. Fuel price for disabled people
Disabled people with a disabled badge are allowed to receive full service both at full-service or self-service gas stations and all this at no extra charge beyond the maximum price of the fuel. In order to be eligible, they must contact the station employee and ask for assistance.
2. Gasoline tariff update
The Ministry of Energy’s Fuel Administration conducts a survey every 5 years regarding the gasoline tariff at gas stations, which includes control of accounting reports at gas companies, an impact on promoting competition in the economy, and comparison with unsupervised products.
- You can contact the fuel companies and coordinating bodies in order to order a general automatic refueling device (universal fuel) that provides relief when refueling the vehicle.
- It is forbidden to sell fuel at a higher price than the maximum price, but it is possible to sell lower.