Globes reports that the maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel in March will fall by NIS 0.03 per liter on Tuesday at midnight to NIS 6.81 per liter, the Ministry of National Infrastructures, Energy and Water Resources has announced. The charge for receiving full-service at pumps from gas station attendants will remain NIS 0.21.

The large fall in world oil prices over the past month has been offset by the depreciation of the shekel during February.

At the beginning of February, the maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel rose by NIS 0.33 per liter to NIS 7.17 per liter. However, two days later the price fell back to NIS 6.84 per liter after Minister of Finance Bezalel Smotrich cut excise by NIS 0.33 per liter in efforts to combat the cost of living increase and tame inflation.

Source - Globes/Twitter - Image - Jamal Awad/Flash90