Israeli drivers are bracing for another sharp hit at the pump this week: unless there is a surprise reversal in the coming hours, fuel prices will jump significantly at midnight Wednesday night.
The main driver behind the increase is the security crisis in the Strait of Hormuz, stemming from the conflict between the United States and Iran, which has sent shockwaves through global energy markets.
According to preliminary estimates in the economy, the price of a liter of 95-octane petrol at self-service stations will rise by approximately 25 to 40 agorot.
The increase will push the price, currently standing at ₪7.75 per liter, past the psychological threshold of ₪8 per liter once again.
For the average household, this means an additional burden on the monthly budget and on the cost of living, translating to an extra ₪15 to 20 every time a full tank is filled.
Economic officials point out that beyond the direct blow to drivers, the surge in energy prices will also have a ripple effect on the consumer price index.
