The price of gasoline in Israel is rising and is close to reaching its all-time high of NIS 8.25 ($2.38) per liter (0.2 gallons) set 10 years ago.

The maximum price allowed for 95 octane gasoline will rise on Thursday evening to NIS 8.08 ($2.34) per liter, the Ministry of National Infrastructures, Energy and Water Resources announced, reported the Israeli business daily Globes.

The cost to fill a tank of an average-sized Israeli car will rise to NIS 347 ($100) on Friday.

Gas prices are increasing throughout the world in part because of the war in Ukraine.

Israeli Finance Minister Avigdor Lieberman cut the excise tax (which makes up 50% of the cost for consumers) by NIS 0.50 ($1.45) per liter in April and wants to double that, according to the report.

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