Israel's gasoline prices hit 14-year high
The price of gasoline in Israel, for 95-octane fuel, will reach its highest level in 14 years tomorrow, at 8.25 shekels per liter, following an increase of 16 agorot. This brings the price back to the record level recorded in September 2012. The increase is a result of a 6% rise in global oil prices and a 3% decline in the value of the dollar. This hike occurs amidst current circumstances and the geopolitical environment, following the closure of the Strait of Hormuz and escalating tensions due to the ongoing war by the United States and Israel against Iran.
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