The Ministry of Energy and Infrastructure has announced a notable reduction in fuel prices, with the cost of 95-octane gasoline dropping below 7 shekels per liter for the first time in two years. Starting at midnight, the maximum price for a liter of self-service gasoline will be 6.85 shekels, reflecting a decrease of 26 agorot from the previous month. Prices in Eilat will also see a reduction, with a liter costing 5.80 shekels before tax. The surcharge for full service remains unchanged.

Officials attribute this decrease to an 11 percent drop in international gasoline prices in the Mediterranean, driven by an oversupply of refined products, reduced demand, and a lower geopolitical risk premium. Additionally, a weakening of the United States dollar has contributed to the price reduction. The announcement is expected to bring relief to consumers who have faced higher fuel costs over the past two years.