Channel 14 reports that the price of fuel in Israel will jump to 8.09 shekels per liter on Saturday night, attributing the rise to the renewed conflict in the Gulf.
Channel 14 confirmed Thursday evening that the price of 95-octane gasoline at self-service pumps will rise to 8.09 shekels per liter starting Saturday night, attributing the increase to the renewed Gulf conflict. The figure matches the official price cap set by the Energy Ministry earlier Thursday, as The Zioneer reported. The hike, which crosses the 8-shekel threshold for the first time, reflects the impact of the resumption of hostilities between the United States and Iran on global energy markets.
The thread began Thursday morning with N12's first report of a 60-agorot rise at 09:04 Jerusalem, followed by ynet's adjustment to 61 agorot. The Energy Ministry then officially announced the 61-agorot increase to 8.09 shekels per liter, effective midnight Saturday-Sunday, citing a 22% rise in international gasoline prices driven by surging global oil prices and supply concerns. Channel 14's report now explicitly ties the hike to the renewed Gulf conflict, adding a more direct attribution to the geopolitical trigger.
The renewed Gulf conflict is part of the ongoing US-Iran confrontation, which The Zioneer has extensively covered. The Zioneer reported on July 8 that US strikes on Iran and IRGC retaliation led to oil price spikes. On July 10, oil spiked to $85 per barrel as Strait of Hormuz traffic nearly halted, according to Bloomberg data. The conflict disrupted global energy markets, pushing oil prices toward $100 per barrel. After a brief ceasefire, fighting resumed, and US gas prices rose above $4 per gallon, as The Zioneer reported on July 20.
The price hike is set to take effect at midnight Saturday-Sunday. The continued volatility in the Gulf conflict remains a key factor for future fuel price adjustments, with the situation on the ground still evolving.
3 developments
- StrongReport: Israel fuel price expected to rise 25-30 agorot per liter, near 7.75 shekels
- StrongUS gas price rises back above $4 per gallon as fighting with Iran resumes
- StrongN12 reports jet fuel price to surge 40% next week, likely driving up August flight tickets
- DevelopingOil prices jump more than 8% as US-Iran conflict worsens
Source and signal
- Open-source intake