Gas prices to hit all time high in Israel

Monday, June 30, 2008 |  Israel Today Staff

Gas prices in Israel will rise by 4% Tuesday morning, bringing them to an all-time high of 7 shekels for a liter of 95 octane, or a little over $8 per gallon.

Israel's gas prices, like those in the US, have skyrocketed over the past four years. Interestingly, gas prices in Iran, where consumer fuel is subsidized by the government, remained steady at a mere 9 cents per gallon.

Israel has begun implementing an aggressive electric car campaign in cooperation with Renault/Nissan to counter the detrimental effects of rising oil prices.

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