May 31, 2020

price of gas

During the corona lockdown the government lowered the price of gas significantly. At the time I suggested, on Facebook, that they were only lowering the price to get some goodwill knowing that nobody was using gas anyway so they were currying favor without giving anything up.

I guessed that as soon as the restrictions ease up and people have where to go again and places to drive to the prices would be brought back up.

People laughed and scoffed.

Looks like I wasnt so off.

The government announced today a sharp increase in price taking effect at midnight tonight. The increase is going to be by 0.42ag per liter, back up to the price of 5.21nis per liter of gasoline.

I am sure the financials of it are actually intricate and complicated, but yes, when nobody could go anywhere they excited us by lowering the price significantly and now that we can get in our cars again and go places they brought it right back up.




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1 comment:

  1. OPEC agreed in April to cut back oil production effective May 1st, in order to bring back up the price of oil. My only question was if the increase was going to take place here in May or June. I filled up my car twice while the price of gas was under 5 NIS.

    ReplyDelete

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