The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel will rise on Thursday at midnight May 1, 2026, by NIS 0.02 per liter to NIS 8.07 per liter, the Ministry of Energy and Infrastructure has announced. This latest slight rise follows a huge rise of more than NIS 1 at the beginning of April due to the war in Iran.

Previous expectations had been for a much sharper rise at the start of May as the price of oil on world markets has continued to climb over the past month but the appreciation of the shekel against the US dollar has offset much of the price rise that would have been otherwise felt at the gas pumps.

Nevertheless this is still the highest price for gasoline in Israel in recent years. The most expensive that 95 octane gasoline has been recently was NIS 7.90 in May 2024 and the cheapest was NIS 6.81 in April-May 2023, partly due to a temporary cut in excise tax.

Ministry of Energy and Infrastructure Fuel Authority managing director Bat Sheva Abuhatzira says of the price rise in May, "Half of the increase (one agora) is due to the update of the excise tax component. The other agora reflects the increase in international oil prices, which rose by about 6%, but this is significantly offset by a fall in the dollar exchange rate, which weakened by about 5%."

The price of gasoline at gas stations in Israel is calculated by the Ministry of Energy towards the end of each month, based on the average fuel prices in the Mediterranean region and the shekel-dollar exchange rate. In addition, the price includes margins for marketing expenses for the gas station, excise tax and VAT.

Published by Globes, Israel business news - en.globes.co.il - on April 29, 2026.

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