Israeli Prices at Pump Rise
Written by: Aaron Katsman | April 2, 2009
Oh, the beauty of have controls on gasoline. Not. It was announced last night that the price of 95-octane rose by over 8%.
According to Ynet: “The price of octane-95 gasoline is now set at NIS 5.46 ($1.29) per liter, an 8.33% rise compared to March. In Eilat a liter of octane-95 gasoline costs NIS 4.74 ($1.12), an 8.47% rise compared to last month. The gas station service charge will remain unchanged from March, at 13 agorot (3 cents) throughout the country and 11 agorot (2.6 cents) in Eilat. As of February, the price of octane-96 gasoline is no longer supervised, and therefore its maximum price is not included in the ministry report. The ministry recommended consumers compare prices of octane-96 gasoline at different gas stations, since this could lead to a 5% save in gas prices. The increase in gas prices follows the continuing rise in the price of oil. During the month of March the price of a barrel of oil rose by 25%, from $40 a barrel at the start of March to $50 a barrel by the end of the month.”
Funny that while crude oil prices dropped by more than 70% the prices at the pump dropped a fraction of that. Humm….price controls.. Ughh.
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