A man fuels a vehicle at a gas station in Tzemach near Tiberias, northern Israel, on Feb. 28, 2022. (Photo by Gil Cohen Magen/Xinhua)
JERUSALEM, March 30 (Xinhua) -- The Israeli Ministry of Energy announced Wednesday an increase in gasoline prices from April 1, resulting in the highest price since July 2014.
The maximum price for unleaded 95-octane gasoline, which is supervised by the Israeli government, is set at 7.44 shekels (2.34 U.S. dollars) per liter, up 0.39 shekels from March.
According to historical data published by the ministry, the price will be at its highest level since July 2014, when it was fixed at 7.62 shekels per liter.
These prices are for self-service refueling, while the price per liter in full service at the gas stations increased from 7.26 shekels to 7.65 shekels.
The recent price rise was mainly caused by the Russia-Ukraine conflict that led to a drop in oil supply, Gad Lior, a senior analyst for the Yedioth Ahronoth daily newspaper, told Xinhua.
In addition, the global exit from the COVID-19 crisis led to an increase in oil demand, he added. ■
