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Tuesday, 29 March 2011

Gasoline Prices to rise in Israel on Friday

Gasoline prices are to rise in Israel on Friday 1 April  2011 by an expected 2.7% according to ynet.  This is a result of the increasing cost of oil on the international markets - as a result of the continue instability in Arab countries -which is causing gasoline prices to rise around the world.  This would see prices rising from 7.3 shekels a litre to 7.43 or 7.5 shekels a litre.  The price of gasoline has continued to rise throughout 2011.

The price of gasoline is Israel is determined at the beginning of every month based on a formula which uses petrol prices in Italy and France.  The prediction of a 2.7% increase in the cost of petrol in Israel could change depending on how petrol prices changes across Europe.

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