The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel will fall sharply on Sunday at midnight June 1, 2026, by NIS 0.27 per liter to NIS 7.80 per liter, the Ministry of Energy and Infrastructure has announced. The charge for service at pumps will remain NIS 0.21 per liter.

The price in Eilat (where there is no VAT) will fall by NIS 0.23 per liter to NIS 6.61 per liter. The charge for service at pumps in Eilat will remain NIS 0.25 per liter.

This latest decline in prices follows two months of sharp rises due to the war in Iran, which saw oil prices soar on world markets.

Ministry of Energy and Infrastructure Fuel Authority managing director Bat Sheva Abuhatzira says, "The major fall in the price of gasoline for June stems from two factors: a fall of about 5% in the shekel-dollar exchange rate and a fall of about 4% in world prices of gasoline. The decrease in price reflects the strengthening of the shekel against the dollar during the month, and the international price of gasoline, which fell towards the end of the month due to progress in talks between the US and Iran."

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 May 31, 2026.

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