Bethel Finance news:
The rise in the price of gasoline will continue at the end of the month when prices in Israel are expected to rise by NIS 0.10-15 per liter, Channel 2 News reports.
If this forecast is realized then the maximum government controlled price of a liter of 95 octane at full service pumps in Israel could reach nearly NIS 7.70.
Part of the rise will be due to an update in excise, which will push up prices by NIS 0.03 per liter.
The main reason for the rise is the increasing cost of oil on world markets. On Wednesday alone the price of a barrel of crude oil in New York rose by 2.8% to $111.23.
A mitigating factor in moderating the rise in gasoline prices in Israel has been the strengthening of the shekel against the dollar. The US currency is at a 30-month low against the shekel.
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